COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE Alert Mechanism Report 2020 (prepared in accordance with Articles 3 and 4 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances)
Date: 2019-12-17
Institutions: Directorate-General for Economic and Financial Affairs, European Commission
Subjects: EU Member State, economic disparity, economic growth, economic recovery, economic statistics, euro area, macroeconomics, multilateral surveillance, national accounts, public debt

EN 

  EN 

   EUROPEAN COMMISSION  Strasbourg, 17.12.2019  SWD(2019) 630 final  COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE Alert Mechanism Report 2020           (prepared in accordance with Articles 3 and 4 of Regulation      (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances) {COM(2019) 651 final}  
 
 
European 
Commission 

                          Statistical Annex of 
                                 Alert Mechanism Report 2020 

This document was prepared by the European Commission's Directorate-General Eurostat 

 
 
 
 
 
 
 
 
 
 
 
 
                    
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table of contents 
BACKGROUND INFORMATION ............................................................................................................................................ 7 

STATISTICAL METHODOLOGY IMPROVEMENTS ................................................................................................................ 9 

THE MIP QUALITY FRAMEWORK .................................................................................................................................... 11 

Chapter 1: Tables by year - Headline indicators ......................................................................................................... 14 

Table 1.1: MIP Scoreboard 2018 .................................................................................................................................. 14 

Table 1.2: MIP Scoreboard 2017 .................................................................................................................................. 15 

Table 1.3: MIP Scoreboard 2016 .................................................................................................................................. 16 

Table 1.4: MIP Scoreboard 2015 .................................................................................................................................. 17 

Table 1.5: MIP Scoreboard 2014 .................................................................................................................................. 18 

Table 1.6: MIP Scoreboard 2013 .................................................................................................................................. 19 

Table 1.7: MIP Scoreboard 2012 .................................................................................................................................. 20 

Table 1.8: MIP Scoreboard 2011 .................................................................................................................................. 21 

Table 1.9: MIP Scoreboard 2010 .................................................................................................................................. 22 

Table 1.10: MIP Scoreboard 2009 ................................................................................................................................ 23 

Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard ............... 24 

Table 2.1: Auxiliary indicators, 2018 ........................................................................................................................... 24 

Table 2.1 (continued): Auxiliary indicators, 2018........................................................................................................ 25 

Table 2.2: Auxiliary indicators, 2017 ........................................................................................................................... 26 

Table 2.2 (continued): Auxiliary indicators, 2017........................................................................................................ 27 

Table 2.3: Auxiliary indicators, 2016 ........................................................................................................................... 28 

Table 2.3 (continued): Auxiliary indicators, 2016........................................................................................................ 29 

Table 2.4: Auxiliary indicators, 2015 ........................................................................................................................... 30 

Table 2.4 (continued): Auxiliary indicators, 2015........................................................................................................ 31 

Table 2.5: Auxiliary indicators, 2014 ........................................................................................................................... 32 

Table 2.5 (continued): Auxiliary indicators, 2014........................................................................................................ 33 

Table 2.6: Auxiliary indicators, 2013 ........................................................................................................................... 34 

Table 2.6 (continued): Auxiliary indicators, 2013........................................................................................................ 35 

Table 2.7: Auxiliary indicators, 2012 ........................................................................................................................... 36 

Table 2.7 (continued): Auxiliary indicators, 2012........................................................................................................ 37 

Table 2.8: Auxiliary indicators, 2011 ........................................................................................................................... 38 

Table 2.8 (continued): Auxiliary indicators, 2011........................................................................................................ 39 

Table 2.9: Auxiliary indicators, 2010 ........................................................................................................................... 40 

Table 2.9 (continued): Auxiliary indicators, 2010........................................................................................................ 41 

Table 2.10: Auxiliary indicators, 2009 ......................................................................................................................... 42 

Table 2.10 (continued): Auxiliary indicators, 2009 ...................................................................................................... 43 

Chapter 3: Tables by indicator ...................................................................................................................................... 44 

Table 3.1: Current account balance, % of GDP (3 year average) ................................................................................. 44

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Table 3.2: Current account balance (% of GDP) .......................................................................................................... 45 

Table 3.3: Net International Investment Position (% of GDP) ..................................................................................... 46 

Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) ................................ 47 

Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) ................................ 48 

Table 3.6: Export market share - % of world exports (5 year % change) ..................................................................... 49 

Table 3.7: Export market share - % of world exports (1 year % change) ..................................................................... 50 

Table 3.8: Nominal unit labour cost index, 2010=100 (3 year % change) ................................................................... 51 

Table 3.9: Nominal unit labour cost index, 2010=100 (1 year % change) ................................................................... 52 

Table 3.10: House price index (2015=100), deflated (1 year % change) ..................................................................... 53 

Table 3.11: Private sector credit flow, consolidated (% of GDP) ................................................................................ 54 

Table 3.12: Private sector debt, consolidated (% of GDP) ........................................................................................... 55 

Table 3.13: General government gross debt (% of GDP) ............................................................................................. 56 

Table 3.14: Unemployment rate (3 year average) ........................................................................................................ 57 

Table 3.15: Unemployment rate (%) ............................................................................................................................ 58 

Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) ...................................................... 59 

Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) ............................................................ 60 

Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in pp) .................................................... 61 

Table 3.19: Activity rate - % of total population aged 15-64 ....................................................................................... 62 

Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in pp) ..................... 63 

Table 3.21: Long-term unemployment rate - % of active population aged 15-74 ........................................................ 64 

Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in pp) ............................ 65 

Table 3.23: Youth unemployment rate - % of active population aged 15-24 ............................................................... 66 

Table 3.24: Real GDP (1 year % change) .................................................................................................................... 67 

Table 3.25: Gross fixed capital formation (% of GDP) ................................................................................................ 68 

Table 3.26: Gross domestic expenditure on R&D (% of GDP) .................................................................................... 69 

Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) .......................................................... 70 

Table 3.28: Net international investment position excluding non-defaultable instruments (% of GDP) ..................... 71 

Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP) ................................................ 72 

Table 3.30: Foreign direct investment in the reporting economy - stocks (% of GDP) ............................................... 73 

Table 3.31: Net trade balance of energy products (% of GDP) .................................................................................... 74 

Table 3.32: Real effective exchange rate - Euro Area trading partners (3 year % change) .......................................... 75 

Table 3.33: Export performance against advanced economies (5 year % change) ....................................................... 76 

Table 3.34: Terms of trade (5 year % change) ............................................................................................................. 77 

Table 3.35: Export market share, volume (1 year % change) ....................................................................................... 78 

Table 3.36: Real labour productivity (1 year % change) .............................................................................................. 79 

Table 3.37: Gross non-performing loans, domestic and foreign entities (% of gross loans) ........................................ 80 

Table 3.38: Unit labour cost performance relative to EA (10 year % change) ............................................................. 81 

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Table 3.39: House price index (2015=100) - nominal (3 year % change) .................................................................... 82 

Table 3.40: Residential construction (% of GDP) ........................................................................................................ 83 

Table 3.41: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP) .................. 84 

Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) ........................ 85 

Table 3.43: Employment rate (1 year % change) ......................................................................................................... 86 

Table 3.44: Young people neither in employment nor in education and training - % of total population aged 15-24 . 87 

Table 3.45: People at risk of poverty or social exclusion - % of total population ........................................................ 88 

Table 3.46: People at risk of poverty after social transfers - % of total population ..................................................... 89 

Table 3.47: Severely materially deprived people - % of total population .................................................................... 90 

Table 3.48: People living in households with very low work intensity - % of total population aged 0-59 .................. 91 

Chapter 4: Tables by Member State - Headline indicators ......................................................................................... 92 

Table 4.1: The MIP scoreboard for Belgium ................................................................................................................ 92 

Table 4.2: The MIP scoreboard for Bulgaria ................................................................................................................ 93 

Table 4.3: The MIP scoreboard for Czech Republic .................................................................................................... 94 

Table 4.4: The MIP scoreboard for Denmark ............................................................................................................... 95 

Table 4.5: The MIP scoreboard for Germany ............................................................................................................... 96 

Table 4.6: The MIP scoreboard for Estonia ................................................................................................................. 97 

Table 4.7: The MIP scoreboard for Ireland .................................................................................................................. 98 

Table 4.8: The MIP scoreboard for Greece .................................................................................................................. 99 

Table 4.9: The MIP scoreboard for Spain .................................................................................................................. 100 

Table 4.10: The MIP scoreboard for France ............................................................................................................... 101 

Table 4.11: The MIP scoreboard for Croatia .............................................................................................................. 102 

Table 4.12: The MIP scoreboard for Italy .................................................................................................................. 103 

Table 4.13: The MIP scoreboard for Cyprus .............................................................................................................. 104 

Table 4.14: The MIP scoreboard for Latvia ............................................................................................................... 105 

Table 4.15: The MIP scoreboard for Lithuania .......................................................................................................... 106 

Table 4.16: The MIP scoreboard for Luxembourg ..................................................................................................... 107 

Table 4.17: The MIP scoreboard for Hungary ........................................................................................................... 108 

Table 4.18: The MIP scoreboard for Malta ................................................................................................................ 109 

Table 4.19: The MIP scoreboard for Netherlands ...................................................................................................... 110 

Table 4.20: The MIP scoreboard for Austria .............................................................................................................. 111 

Table 4.21: The MIP scoreboard for Poland .............................................................................................................. 112 

Table 4.22: The MIP scoreboard for Portugal ............................................................................................................ 113 

Table 4.23: The MIP scoreboard for Romania ........................................................................................................... 114 

Table 4.24: The MIP scoreboard for Slovenia ........................................................................................................... 115 

Table 4.25: The MIP scoreboard for Slovakia ........................................................................................................... 116 

Table 4.26: The MIP scoreboard for Finland ............................................................................................................. 117 

Table 4.27: The MIP scoreboard for Sweden ............................................................................................................. 118 

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Table 4.28: The MIP scoreboard for United Kingdom ............................................................................................... 119 

Chapter 5:Tables by Member State-Auxiliary indicators used in the economic reading of the MIP scoreboard 120 

Table 5.1: Auxiliary indicators for Belgium .............................................................................................................. 120 

Table 5.1 (continued): Auxiliary indicators for Belgium ........................................................................................... 121 

Table 5.2: Auxiliary indicators for Bulgaria .............................................................................................................. 122 

Table 5.2 (continued): Auxiliary indicators for Bulgaria ........................................................................................... 123 

Table 5.3: Auxiliary indicators for Czech Republic ................................................................................................... 124 

Table 5.3 (continued): Auxiliary indicators for Czech Republic ................................................................................ 125 

Table 5.4: Auxiliary indicators for Denmark ............................................................................................................. 126 

Table 5.4 (continued): Auxiliary indicators for Denmark .......................................................................................... 127 

Table 5.5: Auxiliary indicators for Germany ............................................................................................................. 128 

Table 5.5 (continued): Auxiliary indicators for Germany .......................................................................................... 129 

Table 5.6: Auxiliary indicators for Estonia ................................................................................................................ 130 

Table 5.6 (continued): Auxiliary indicators for Estonia ............................................................................................. 131 

Table 5.7: Auxiliary indicators for Ireland ................................................................................................................. 132 

Table 5.7 (continued): Auxiliary indicators for Ireland .............................................................................................. 133 

Table 5.8: Auxiliary indicators for Greece ................................................................................................................. 134 

Table 5.8 (continued): Auxiliary indicators for Greece .............................................................................................. 135 

Table 5.9: Auxiliary indicators for Spain ................................................................................................................... 136 

Table 5.9 (continued): Auxiliary indicators for Spain ................................................................................................ 137 

Table 5.10: Auxiliary indicators for France ............................................................................................................... 138 

Table 5.10 (continued): Auxiliary indicators for France ............................................................................................ 139 

Table 5.11: Auxiliary indicators for Croatia .............................................................................................................. 140 

Table 5.11 (continued): Auxiliary indicators for Croatia ........................................................................................... 141 

Table 5.12: Auxiliary indicators for Italy ................................................................................................................... 142 

Table 5.12 (continued): Auxiliary indicators for Italy ................................................................................................ 143 

Table 5.13: Auxiliary indicators for Cyprus ............................................................................................................... 144 

Table 5.13 (continued): Auxiliary indicators for Cyprus ........................................................................................... 145 

Table 5.14: Auxiliary indicators for Latvia ................................................................................................................ 146 

Table 5.14 (continued): Auxiliary indicators for Latvia ............................................................................................. 147 

Table 5.15: Auxiliary indicators for Lithuania ........................................................................................................... 148 

Table 5.15 (continued): Auxiliary indicators for Lithuania ........................................................................................ 149 

Table 5.16: Auxiliary indicators for Luxembourg ...................................................................................................... 150 

Table 5.16 (continued): Auxiliary indicators for Luxembourg .................................................................................. 151 

Table 5.17: Auxiliary indicators for Hungary ............................................................................................................ 152 

Table 5.17 (continued): Auxiliary indicators for Hungary ......................................................................................... 153 

Table 5.18: Auxiliary indicators for Malta ................................................................................................................. 154 

Table 5.18 (continued): Auxiliary indicators for Malta .............................................................................................. 155 

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Table 5.19: Auxiliary indicators for Netherlands ....................................................................................................... 156 

Table 5.19 (continued): Auxiliary indicators for Netherlands .................................................................................... 157 

Table 5.20: Auxiliary indicators for Austria .............................................................................................................. 158 

Table 5.20 (continued): Auxiliary indicators for Austria ........................................................................................... 159 

Table 5.21: Auxiliary indicators for Poland ............................................................................................................... 160 

Table 5.21 (continued): Auxiliary indicators for Poland ............................................................................................ 161 

Table 5.22: Auxiliary indicators for Portugal ............................................................................................................. 162 

Table 5.22 (continued): Auxiliary indicators for Portugal ......................................................................................... 163 

Table 5.23: Auxiliary indicators for Romania ............................................................................................................ 164 

Table 5.23 (continued): Auxiliary indicators for Romania......................................................................................... 165 

Table 5.24: Auxiliary indicators for Slovenia ............................................................................................................ 166 

Table 5.24 (continued): Auxiliary indicators for Slovenia ......................................................................................... 167 

Table 5.25: Auxiliary indicators for Slovakia ............................................................................................................ 168 

Table 5.25 (continued): Auxiliary indicators for Slovakia ......................................................................................... 169 

Table 5.26: Auxiliary indicators for Finland .............................................................................................................. 170 

Table 5.26 (continued): Auxiliary indicators for Finland ........................................................................................... 171 

Table 5.27: Auxiliary indicators for Sweden .............................................................................................................. 172 

Table 5.27 (continued): Auxiliary indicators for Sweden .......................................................................................... 173 

Table 5.28: Auxiliary indicators for United Kingdom ............................................................................................... 174 

Table 5.28 (continued): Auxiliary indicators for United Kingdom ............................................................................ 175 

Chapter 6: Tables by year - MIP Scoreboard (base indicators) ............................................................................... 176 

Table 6.1: MIP Scoreboard (base indicators) 2018 .................................................................................................... 176 

Table 6.2: MIP Scoreboard (base indicators) 2017 .................................................................................................... 177 

Table 6.3: MIP Scoreboard (base indicators) 2016 .................................................................................................... 178 

Table 6.4: MIP Scoreboard (base indicators) 2015 .................................................................................................... 179 

Table 6.5: MIP Scoreboard (base indicators) 2014 .................................................................................................... 180 

Table 6.6: MIP Scoreboard (base indicators) 2013 .................................................................................................... 181 

Table 6.7: MIP Scoreboard (base indicators) 2012 .................................................................................................... 182 

Table 6.8: MIP Scoreboard (base indicators) 2011 .................................................................................................... 183 

Table 6.9: MIP Scoreboard (base indicators) 2010 .................................................................................................... 184 

Table 6.10: MIP Scoreboard (base indicators) 2009 .................................................................................................. 185 

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BACKGROUND INFORMATION 

This  Statistical  Annex  to  the  2020  Alert  Mechanism  Report  (AMR  2020)  presents  the 
Macroeconomic Imbalance Procedure (MIP) scoreboard and auxiliary indicators used in the 
economic  reading  of  the  MIP  scoreboard.  Eurostat  mainly  compiles  these  indicators  from 
data  transmitted  by  Member  States,  following  European  legislation.  The  MIP  scoreboard 
indicators  are  presented  with  their  indicative  thresholds  (used  in  the  AMR)  while  no 
threshold is applied to the auxiliary indicators. 

The  policy  framework  of  the  MIP  relies  on  timely  and  high  quality  socio-economic  and 
financial  statistics.  Since  the  publication  of  the  first  Statistical  Annex  in  2012,  significant 
progress  has  been  achieved  towards  enhancing  the  standards  and  methods  used  for  the 
compilation  of  underlying  data  as  well  as  strengthening  the  statistical  quality  assurance 
framework. 

The  MIP  Scoreboard  consists  of  fourteen  scoreboard  indicators  measuring  internal  and 
external imbalances as well as social and labour market developments. The MIP scoreboard 
indicators for the last ten  years are displayed in  this statistical  annex by year in  chapter 1, 
and  by  country  in  chapter  4.  Table  1  lists  the  MIP  scoreboard  indicators  together  with 
detailed information on their data sources. 

The  cut-off  date  for  the  data,  that  is  the  date  on  which  the  data  were  extracted  from  the 
Eurostat  database  for  the  preparation  of  this  document,  was  25th  October  2019.  For 
additional information about the data, please contact ESTAT-MIP@ec.europa.eu.  

Table 1. MIP scoreboard indicators (AMR 2020) 

Indicator 

Unit 

Data source 

Statistical domain 

Current account balance (% of GDP) 

3 year average 

Net international investment position  
Real effective exchange rate (42 trading 
partners, HICP deflator) 
Export market share (% of world exports) 

% of GDP 

3 year % change 

DG ECFIN 

5 year % change  

Eurostat, IMF 

Nominal unit labour cost index (2010=100) 

3 year % change 

House price index (2015=100), deflated 
Private sector credit flow, consolidated 
Private sector debt, consolidated 
General government gross debt  
Unemployment rate 
Total financial sector liabilities, non-
consolidated 
Activity rate (% of total population aged 15-
64) 
Long-term unemployment rate (% of 
active population aged 15-74) 
Youth unemployment rate (% of active 
population aged 15-24) 

1 year % change  
% of GDP 
% of GDP 
% of GDP 
3 year average 

1 year % change  

3 year change in pp 

Eurostat 

3 year change in pp 

Eurostat 

3 year change in pp 

Eurostat 

Eurostat 

Eurostat 

Eurostat 

Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 

Eurostat 

BoP/NA 

BoP/NA 

BoP 

NA 

Price statistics/NA 
NA (FA) 
NA (FA) 
EDP/GFS 
EU-LFS 

NA (FA) 

EU-LFS 

EU-LFS 

EU-LFS 

Note: NA – National Accounts; BoP – Balance of Payments; FA – Financial Accounts; EDP – Excessive Deficit Procedure 
Statistics  /  GFS  –  Government  Finance  Statistics;  and  LFS  –  Labour  Force  Survey/Labour  Market  Statistics;  pp  – 
percentage points 

Supplementing the MIP scoreboard indicators, a list of 28 auxiliary indicators (see Table 2) 
provides  additional  information  on  aspects  linked  to  the  general  macroeconomic  situation, 
nominal  and  real  convergence  inside  and  outside  the  European  Union  and  the  euro  area, 
detailed  data  on  external  liabilities,  including  foreign  direct  investment  and  net  external 
debt,  and  social  statistics.  The  auxiliary  indicators  enhance  the  information  base  for 

7 

 
 
 
understanding potential imbalances, as well as the adjustment capacity of the economy. The 
auxiliary indicators are also presented in this Statistical Annex by year (in Chapter 2) and by 
country (in Chapter 5). 

Statistical 
domain 

NA 
NA 
Business 
Statistics/ NA 
BoP/NA 
BoP/ NA 

BoP/NA 

BoP/NA 

International 
Trade/ NA 

BoP 

NA 

NA 
CBD 

Table 2. MIP auxiliary indicators (AMR 2020) 

Indicator 

Real GDP 
Gross fixed capital formation 
Gross domestic expenditure on R&D 

Unit 

1 year % change 
% of GDP 
% of GDP 

Current plus capital account (Net lending-borrowing)  % of GDP 
% of GDP 
Net international investment position excluding non-
defaultable instruments 
Foreign direct investment in the reporting economy – 
net inward flows 
Foreign direct investment in the reporting economy - 
stocks 
Net trade balance of energy products 

% of GDP 

% of GDP 

% of GDP 

Data 
source 

Eurostat 
Eurostat 
Eurostat 

Eurostat 
Eurostat 

Eurostat 

Eurostat 

Eurostat 

Real effective exchange rates – euro area trading 
partners 
Export performance against advanced economies 

Terms of trade 
Export market share - in volume 

3 year % change 

DG ECFIN 

5 year % change 

5 year % change 
1 year % change 

1 year % change 
% of gross loans 

Eurostat/OE
CD 
Eurostat 
Eurostat 
/IMF 
Eurostat 
ECB 

Labour productivity 
Gross non-performing loans, domestic and foreign 
entities 
Unit labour cost performance relative to euro area 
House price index (2015=100) - nominal 
Residential construction 
Household debt, consolidated (incl. NPISH) 
Consolidated banking leverage 

Employment rate 
Activity rate 

Price statistics 
NA 
NA (FA) 
CBD 

DG ECFIN 
Eurostat 
Eurostat 
Eurostat 
ECB 

10 year % change 
3 year % change 
% of GDP 
% of GDP 
Total asset/ total 
equity 
1 year % change 
% of total population 
aged 15-64 
% of active population 
aged 15-74 
% of active population 
aged 15-24 
Young  people  neither 
%  of  total  population 
education and training 
aged 15-24 
People at risk of poverty or social exclusion  
% of total population  
People at risk of poverty after social transfers  
% of total population 
Severely materially deprived people  
% of total population 
People  living  in  households  with  very  low  work 
%  of  total  population 
aged 0-59 
intensity  
Note: NA – National Accounts; BoP – Balance of Payments; CBD – Consolidated banking data; FA – Financial Accounts; 
LFS – Labour Force Survey/Labour Market Statistics; SILC – Statistics on Income and Living Condition 

EU-SILC 
EU-SILC 
EU-SILC 
EU-SILC 

Eurostat 
Eurostat 
Eurostat 
Eurostat 

Long term unemployment rate 

Youth unemployment rate 

in  employment  nor 

NA 
EU-LFS 

Eurostat 
Eurostat 

EU-LFS 

EU-LFS 

EU-LFS 

Eurostat 

Eurostat 

Eurostat 

in 

In Chapter 3, the data are presented by indicator to allow easy comparison of Member States 
for  the  10-year  time  series.  In  addition,  short  descriptions  of  the  indicators  and  detailed 
information on sources and methods employed for their compilation are provided. 

8 

 
 
 
 
 
 
STATISTICAL METHODOLOGY IMPROVEMENTS 

Since  2014,  MIP  indicators  stemming  from  the  National  Accounts  (NA)  and  Balance  of 
Payments  (BoP)  and  International  Investment  Position  (IIP)  domains  have  been  computed 
following the ESA 2010 and BPM6 statistical standards (the European System of Accounts 
2010  and  the  Balance  of  Payments  and  International  Investment  Position  Manual,  6th 
edition) that guarantee a high level of comparability across European Union Member States. 
The  successful  implementation  of  these  standards  improved  the  quality  of  the  MIP 
underlying data.  

In  particular,  concerning  indicators  from  the  Balance  of  Payments  and  International 
Investment  Position,  the  revision  of  international  standards  and  changeover  to  BPM6  was 
translated into new data requirements via the adoption of Commission Regulation (EU) No 
555/2012 and ECB Guideline (ECB/2011/23). According to the legislation, Member States 
shall  submit  to  the  Commission  (Eurostat)  data  following  the  BPM6  requirements  from 
2014  onwards  only.  In  order  to  maintain  comparability  over  time,  either  countries 
themselves or Eurostat  in  cooperation with  them, have back-calculated the main BoP time 
series according to the new standards. As a result, data coverage for the ten years timespan 
needed for this year's Statistical Annex (2009-2018) is complete.  

The  implementation  of  the  standards  ensures  conceptual  consistency  between  National 
Accounts and Balance of Payments/ International Investment Position. However, in practice, 
differences  in  the  different  components  of  the  accounts  (the  BoP/IIP  and  NA  Rest  of  the 
world data) still persist.  

Eurostat  has  further  elaborated  on  the  reconciliation  of  the  Balance  of  Payments  and  the 
Rest of the World (RoW) account at national level. After the implementation of the BPM6 
methodology  in  2014,  Eurostat  has  regularly  assessed  the  state  of  consistency  between 
Balance of Payments and National Accounts statistics.  

Additional changes in 2019 

The  implementation  of  the  harmonised  European  revision  policy  (HERP)  for  National 
Accounts  and  balance  of  payments  statistics  covering  benchmark  and  routine  revisions  is 
progressing on a voluntary basis. The policy includes differentiated guidelines regarding the 
timing and depth of routine and benchmark revisions to quarterly and annual data. It aims at 
improving  adherence  to  the  twofold  principle  of  alignment  at  national  level  between 
statistical domains and coordinated alignment at European Union level across the countries.  

According  to  the  recommendations  of  the  HERP,  Member  States  should  carry  out 
benchmark  revisions  typically  every  5  years.  Since  Member  States  implemented  the  last 
benchmark  revision  in  2014  in  the  context  of  the  implementation  of  the  revised 
methodologies  ESA  2010  and  BPM6,  2019  is  the  recommended  implementation  year  of  a 
new  benchmark  revision,  even  though  some  countries  have  decided  to  deviate  from  this 
recommended practice1. In 2019, 17 Member States, namely Belgium, Bulgaria, Germany, 
Estonia,  Spain,  Italy,  Cyprus,  Latvia,  Lithuania,  Hungary,  Portugal,  Romania,  Slovenia, 
Slovakia,  Finland,  Sweden  and  the  United  Kingdom,  as  well  as  Norway  carried  out 
coordinated benchmark revisions of national accounts and balance of payments. It is worth 
noting  that  France  and  the  Netherlands  already  implemented  their  benchmark  revisions  in 

1 Information on data revisions and on the publication of benchmark data is available on the Eurostat website:  
https://ec.europa.eu/eurostat/web/esa-2010/esa-2010-implementation-and-data-quality  
https://ec.europa.eu/eurostat/documents/737960/9861115/Benchmark_revisions_2019.pdf  

9 

 
 
                                                           
2018  and  Austria  in  2016.  While  the  introduction  of  benchmark  revisions  is  usually 
associated with more significant revisions, they improve the overall quality and consistency 
of data through further improvements in the methodology, sources or estimation techniques 
applied. 

In the Balance of Payments domain, progress has been made concerning the asymmetries 
in trade in goods and services. To address the problem of asymmetries in mirror trade data, 
Eurostat  organised  several  workshops  under  the  umbrella  of  its  Balance  of  Payments 
Working Group with Member States. During these workshops, experts from Member States 
had  the  opportunity  to  exchange  experiences,  discuss  bilaterally  and  decide  on  specific 
actions  to  resolve  their  corresponding  trade  asymmetries.  Member  States  have  also  been 
invited  to  present  their  experiences  and  approaches  to  address  bilateral  asymmetries  with 
partner  countries.  Furthermore,  a  recent  paper  jointly  drafted  by  the  Bureau  of  Economic 
Analysis  (BEA)  and  Eurostat,  analysed  current  account  asymmetries  with  a  focus  on 
bilateral  trade  in  services  asymmetries  and  cross-border  income  flows  between  the  United 
States  and  the  European  Union.  The  paper  finds  that  EU-US  bilateral  asymmetries  have 
shown an increasing trend in recent years. One of the identified reasons for asymmetries is 
that  the US  has  not  yet  fully  implemented  the  international  methodological  guidance 
(BPM6) while the Commission has ensured its implementation in all EU Member States by 
means of Commission Regulation (EU) No 555/2012. 

Eurostat  is  working  closely  with  the  BEA  and  EU  Member  States  to  address  these 
shortcomings, and further bilateral work between the BEA and Eurostat is foreseen. Specific 
treatments  of  Direct  Investment  will  also  be  examined,  such  as  the  reinvestment  of  the 
profits of the Direct Investment companies, the valuation criteria of the equity participations 
of a Direct Investment company, and the creation of notional resident units. 

In the domain of Financial Accounts, regarding Total Financial Sector Liabilities, work is 
ongoing  to  ensure  a  comprehensive  and  timely  coverage  of  Other  financial  institutions 
(OFIs).  Other  areas  of  ongoing  or  planned  statistical  work  which  are  important  for  the 
quality  of  MIP  indicators  concern  the  recording  of  other  equity,  of  derivatives,  of  loans 
between  non-financial  corporations,  of  foreign-controlled  corporations,  and  of  the  vertical 
discrepancy with non-financial sector accounts.   

Concerning the Labour Force Survey, no major changes affected the data during 2018/19. 
In  view  of  the  entry  into  force  of  the  Integrated  European  Social  Statistics  Framework 
Regulation  (IESS  FR),  expected  for  the  beginning  of  2021,  all  countries  are  postponing 
methodological  changes  to  that  date,  in  order  to  introduce them  together  with  the  new 
standards provided by the regulation. The strategy  is  to  impact  the data time series with  a 
unique major break, instead of perturbing the series for a longer period. A common strategy 
for the production and dissemination of back-calculated series is under development, led by 
Eurostat. 

In the House Prices domain, the Index for Germany has been revised upwards in 2016 and 
2017  to  better  capture  the  locations  of  property  transactions  and  therefore  to  better  reflect 
strong rise of prices in large cities. For Hungary, the index has been revised upwards in 2017 
and  2018  following  an  adjustment  of  the  housing  quality  composition  index.  The  change 
concerned  the  composition  of  sold  houses,  which  shifted  more  towards  lower-quality 
housing  than  previously  estimated  in  2015.  As  a  result  of  the  adjustment,  the  2017-2018 

10 

 
 
quality composition Index has been revised downwards, thus resulting in higher pure price 
index values than previously reported. 

General  Government  Gross  Debt  data  notified  for  the  years  2015  to  2018 have  been 
released on 21st October 2019 within the EDP  notification. For more information  on main 
revisions  between  the  April  2019  and  the  October  2019  notifications  please  see  the  latest 
EDP news release2. 

THE MIP QUALITY FRAMEWORK  

The  credibility  of  the  MIP  and  its  smooth  implementation  depends  critically  on  the 
availability and quality of the MIP underlying statistics. The statistics used in the procedure 
have to be fit for the purpose, reliable and comparable among Member States and in time. 
For that reason,  the scoreboard indicators are regularly reviewed;  the underlying statistical 
methodology  and  the  statistical  production  processes  are  constantly  improved.  Statistics 
underlying the MIP indicators are based on European Union legislation and compiled by the 
European  Statistical  System  (ESS)  and  in  part  by  the  European  System  of  Central  Banks 
(ESCB). 

In 2016, the Economic and Financial Affairs Council (ECOFIN)3 recalled that the MIP must 
rely  upon  sound  and  harmonised  official  statistics  and  since  2011  it  has  emphasised  the 
importance of close cooperation between the ESS and the ESCB in assessing the reliability 
of the statistics underlying the MIP and improving their quality. Following the invitation of 
the Council to take all necessary initiatives to assure a reliable procedure for the compilation 
of  MIP  indicators  as  well  as  a  continuous  improvement  of  the  underlying  statistical 
information, a Memorandum of Understanding (MoU) was signed between Eurostat and the 
Directorate  General  Statistics  of  the  European  Central  Bank  in  November  2016,  which 
mutually  recognises  both  quality  assurance  frameworks  and  enables  an  even  closer 
cooperation on the respective quality reports in the field of BoP/IIP and Financial Accounts. 

The  MIP  quality  assurance  framework,  developed  jointly  by  Eurostat  and  the  Directorate 
General  Statistics  of  the  European  Central  Bank,  follows  a  three-level  structure.  A 
comprehensive  webpage4  with  information  and  links  to  all  relevant  quality  documents  is 
available  on  the  MIP  dedicated  section  of  Eurostat  website.  In  this  framework,  the  work 
performed in 2018 consisted of the following actions: 

 

Level  1:  preparation  of  an  annual  ESS-ESCB  quality  assessment  report  on  MIP 
statistics  by Eurostat  and the ECB towards the  European Parliament  and Council, 
policy makers and the public at large, to assess the reliability and comparability of 
MIP  underlying  statistics  and  address  the  most  relevant  quality  issues.  The  fifth 
report was published in June 2019 on the websites of Eurostat, the ECB, and of the 
Committee  on  Monetary,  Financial  and  Balance  of  Payments  Statistics  (CMFB). 
This  year's  report  has  been  streamlined,  with  better  separation  of  recent 
developments from more permanent features. 

2 https://ec.europa.eu/eurostat/documents/2995521/10064349/2-21102019-AP-EN.pdf 
3 Council conclusions of ECOFIN Council meeting on 8 November 2016 
(http://data.consilium.europa.eu/doc/document/ST-14164-2016-INIT/en/pdf)  
4 https://ec.europa.eu/eurostat/web/macroeconomic-imbalances-procedure/quality 

11 

 
 
                                                           
 

Level  2:  domain-specific  quality  reports  produced  by  Eurostat  and  the  ECB 
summarising  the  main  findings  for  the  euro  area  or  the  European  Union  Member 
States. These reports assess the underlying compilation process and its robustness, 
describe  its  legal  basis  and  evaluate  whether  the  statistics  are  in  line  with 
international  statistical  standards.  The  following  level  2  reports  are  currently 
available: 

  National  Accounts  (including  Financial  Accounts)  (Eurostat5)  and  Financial 

Accounts (ECB6) 

  Balance  of  Payments  and  International  Investment  Position  statistics 

(Eurostat7, ECB8) 

  House Price Statistics (Eurostat9) 
  Labour Force Survey (Eurostat10) 

In the area of National Accounts, following the adoption of an implementing act11, an annual 
reporting on the quality of national and regional accounts data by Member States started in 
2017.  The  first  annual  Eurostat  quality  report  was  published  on  17  May  201812,  based  on 
data transmissions in 2016 covered by the ESA 2010 transmission programme. The Eurostat 
quality report also  explicitly covers data underlying the MIP indicators.  The set  of quality 
indicators  covered  will  be  progressively  extended  by  2021.  An  overview  on  ESA  2010 
implementation and quality was added to the Eurostat website13. 

The  implementation  of  the  alignment  of  the  existing  Quality  Reports  on  Balance  of 
Payments/International  Investment  Position  produced  by  the  ESS  and  the  ESCB  has  been 
achieved in the course of 2018. While due to the different data coverage and legislation it is 
currently  not  possible  to  have  one  common  report,  its  structure,  the  indicators  and  the 
findings included in the Eurostat and the ECB reports are to a great extent harmonized.  

In addition, the Commission (DG ECFIN), in its capacity as compiler of the Real Effective 
Exchange Rate (REER) indicator, publishes quality information on real effective exchange 
rate indicators on its website14. 

 

Level 3: development of condensed country specific self-assessment reports on the 
quality and statistical  processes for statistics underlying the MIP indicators which 
are easily understandable by users. They should provide the basis for  assuring the 
quality of the statistics and their comparability across countries. Member States are 

5 https://ec.europa.eu/eurostat/documents/7870049/9462569/KS-FT-18-012-EN-N.pdf 
6 https://www.ecb.europa.eu/pub/pdf/euroareafinancialaccounts/ecb.eaqfa201806.en.pdf  
7 https://ec.europa.eu/eurostat/documents/7870049/10088317/KS-FT-19-005-EN-N.pdf 
8 https://www.ecb.europa.eu/pub/pdf/bopips/ecb.bopips201806.en.pdf 
9 https://ec.europa.eu/eurostat/documents/7590317/0/HPI-Quality-Report-2017/ 
10 https://ec.europa.eu/eurostat/documents/7870049/9518973/KS-FT-19-001-EN-N.pdf  
11 http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.L_.2016.345.01.0027.01.ENG 
Commission  Implementing  Regulation  (EU)  2016/2304  of  19  December  2016  on  the  modalities,  structure, 
periodicity  and  assessment  indicators  of  the  quality  reports  on  data  transmitted  pursuant  to  Regulation  (EU)  No 
549/2013 of the European Parliament and of the Council, OJ L 345, 20.12.2016, p. 27-36. 
12 The review was published as technical annex to the first 5-annual Report from the Commission to the European 
Parliament  and  the  Council  on  the  application  of  ESA  2010  and  granted  derogations  due  on  1  July  2018 
(COM(2008)506); https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52018DC0506.  
13 https://ec.europa.eu/eurostat/web/esa-2010/esa-2010-implementation-and-data-quality  
14 https://ec.europa.eu/info/files/report-quality-sources-and-methods_en  

12 

 
 
                                                           
encouraged to publish such reports. In 2017 information for the statistical domains 
Balance  of  Payments  and  International  Investment  Position,  Financial  Accounts, 
House  Price  Statistics  and  the  Labour  Force  Survey  were  prepared  for  almost  all 
countries. Updated versions of these national reports are being drafted and they will 
be published on the CMFB website15 when available.  

Moreover, in the context of the MoU, joint ECB-Eurostat visits to the Member States have 
taken place, focussing on BoP and Financial Accounts. The first two pilot joint visits took 
place in 2017 in  Belgium  and Greece.  In 2018  Eurostat and the ECB visited  Luxembourg 
and Poland. In 2019, Germany and Malta were visited. The next MIP visit will take place in 
November 2019, to Ireland. 

The  rest  of  this  document  presents  MIP  scoreboard  and  auxiliary  indicators  by  different 
perspectives: Chapter 1 and Chapter 2 illustrate the headline and auxiliary indicators by year 
respectively, Chapter 3 focuses on the evolution of indicators in time, while Chapter 4 and 
Chapter 5 present the scoreboard and auxiliary indicators by Member State respectively, and 
finally Chapter 6 illustrates untransformed scoreboard indicators by year. 

15 https://www.cmfb.org/main-topics/mip-quality 

13 

 
 
 
                                                           
Chapter 1: Tables by year - Headline indicators  
Table 1.1: MIP Scoreboard 2018   

14 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.3 41.3 6.9 -1.5 3.7 1.0 0.8 178.5 100.0 7.0b-2.9 1.0 -1.5 -6.3 BG4.0 -35.2 3.9 13.4 18.3p4.5 3.9 95.0 22.3 6.3 6.8 2.2 -2.6 -8.9 CZ1.2 -23.5 11.0 11.9 13.5 6.1p5.3 70.7 32.6 3.0 7.4 2.6 -1.7 -5.9 DK7.5 48.5 2.6 -1.5 4.0 3.5 2.4 199.4 34.2 5.6 -4.7 0.9 -0.6 -1.6 DE8.0 62.0 5.3 3.1 5.6 5.1 6.6 102.4 61.9 3.8 2.0 1.0 -0.6 -1.0 EE2.1 -27.7 7.7 0.8 14.3 2.1 3.7 101.5 8.4 6.0 6.9 2.4 -1.1 -1.2 IE2.3 -165.0 2.3 77.4 -2.8 8.3 -7.8 223.2 63.6 7.0 5.1 0.8 -3.2 -6.4 EL-2.2 -143.3 3.6 6.9 1.4p1.3e-1.1p115.3p181.2 21.5 -5.0 0.4 -4.6 -9.9 ES2.6 -80.4 4.1 4.6 0.7p5.3 0.4p133.5p97.6 17.4 -2.2 -0.6 -5.0 -14.0 FR-0.6 -16.4 4.5 -0.2 2.4p1.5 7.9p148.9p98.4 9.5 1.6 0.6 -0.8 -4.0 HR2.4 -57.9 4.2 22.9 -2.4d4.6 2.3p94.0p74.8 10.9 4.6 -0.6 -6.8 -18.9 IT2.6 -4.7 3.3 0.3 2.7 -1.6 1.6 107.0 134.8 11.2 -0.1 1.6 -0.7 -8.1 CY-4.6 -120.8 1.8 16.6 -0.4p0.2 8.4p282.6p100.6 10.8 0.3 1.1 -4.1 -12.6 LV0.6 -49.0 4.9 8.6 14.7 6.6 -0.2 70.3 36.4 8.6 -3.0 2.0 -1.4 -4.1 LT-0.1 -31.0 6.4 3.5 16.5 4.6 4.3 56.4 34.1 7.1 8.2 3.2 -1.9 -5.2 LU4.9 59.8 3.3 10.7 7.9 4.9 -0.5 306.5 21.0 5.8 -2.0 0.2b-0.5 -2.5 HU2.1 -52.0 2.0 8.4 12.4 10.9 4.3 69.3 70.2 4.3 -9.2 3.3 -1.7 -7.1 MT8.9 62.7 4.9 24.0 3.2 5.1p7.5 129.8 45.8 4.1 2.3 5.9 -1.3 -2.5 NL9.9 70.7 3.2 1.7 3.0p7.4 4.5p241.6p52.4 4.9 -3.3p0.7 -1.6 -4.1 AT2.2 3.7 4.8 3.9 4.7 2.5 3.9 121.0 74.0 5.5 1.7 1.3 -0.3 -1.2 PL-0.5 -55.8 0.1 25.8 8.1p4.9 3.4 76.1 48.9 5.0 3.0 2.0 -2.0 -9.1 PT0.9 -105.6 3.1 9.4 5.3p8.9 -0.1p154.3p122.2 9.1 0.7 1.7 -4.1 -11.7 RO-3.3 -44.1 -0.7 23.7 33.6p1.8 1.9p47.8p35.0 5.0 3.3 1.7 -1.2 -5.5 SI5.5 -18.9 2.0 20.4 6.1 7.4 1.3 72.8 70.4 6.6 4.1 3.2 -2.5 -7.5 SK-2.4 -68.1 2.5 3.2 10.9 5.0 2.0 90.9 49.4 8.1 8.9e1.5 -3.6 -11.6 FI-1.4 -2.0 3.0 -3.0 -2.6 -0.2 1.6 142.1 59.0 8.3 19.9 2.1 -0.7 -5.4 SE2.8 10.3 -4.0 -6.3 7.4 -3.0 9.0 200.0 38.8 6.6 -2.9 1.2 -0.3 -3.6 UK-4.3 -10.5 -13.0 -3.8 7.8 0.7 5.3 169.1 85.9 4.4 -0.6 1.0 -0.5 -3.3 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)UnemploymentrateforBE:revisioninthesurveymethodology.5)InTotalfinancialsectorliabilitiesforSK,derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2018External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
Table 1.2: MIP Scoreboard 2017   

15 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE1.1 56.7 0.9 1.1 0.8 1.6p0.1 185.0 101.8 7.8b0.6 0.3b-0.8b-3.9bBG2.3 -43.3 -3.3 20.4 13.5p5.3 4.1 99.0 25.3 7.7 7.1 2.3 -3.5 -10.9 CZ1.2 -25.0 5.3 8.6 5.9 9.1p4.2 67.3 34.7 4.0 23.0 2.4 -1.7 -8.0 DK7.9 40.8 -2.1 1.1 2.4 3.3 0.1 201.7 35.5 6.0 4.8 0.7b-0.4b-1.8 DE8.4 55.2 -2.0 5.7 4.9 4.6 4.5 100.1 65.3 4.2 4.0 0.5 -0.6 -0.9 EE2.0 -32.5 3.0 2.2 12.4 1.8 4.8 107.6 9.3 6.3 14.3 3.6 -1.4 -2.9 IE0.2 -167.2 -6.3 71.3 -15.4 9.8 0.2 250.5 67.8 8.4 4.3 0.9 -3.6 -9.0 EL-1.5 -140.7 -3.0 -0.4 -1.0p-1.6e-1.0p118.1p176.2 23.3 -13.0 0.9 -3.9 -8.8 ES2.6 -85.5 -2.6 9.9 -0.5p4.5 0.7p139.7p98.6 19.6 3.4 -0.3 -5.2 -14.6 FR-0.5 -16.6 -3.0 2.4 1.5p2.2 6.8p145.5p98.4 10.0 4.6 0.5 -0.3 -1.9 HR2.8 -65.6 0.1 23.2 -3.9d2.9 1.5 97.8 78.0 13.5 3.9 0.3 -5.5 -17.7 IT2.2 -7.7 -3.1 1.2 1.3 -2.3 1.3 108.8 134.1 11.6 4.2 1.5 -1.2 -8.0 CY-3.3 -127.3 -6.4 18.6 -4.1p1.3 6.7 304.0 93.9 13.0 -1.7 -0.4 -3.2 -11.3 LV0.5 -56.2 1.7 8.2 15.2 5.6 2.4 76.9 38.6 9.4 6.2 2.4 -1.3 -2.6 LT-1.0 -37.9 2.6 3.8 16.3 5.3 4.5 56.1 39.3 8.0 13.9 2.2 -2.1 -6.0 LU5.0 51.8 -1.0 21.4 4.0 3.7 27.4 322.9 22.3 6.1 0.4 -0.6 0.5 -6.8 HU3.1 -54.9 0.0 10.8 9.1 9.3 0.7 70.0 72.9 5.4 -7.7 4.2 -2.0 -9.7 MT6.0 63.0 -2.5 24.2 1.2 4.1 5.5 132.3 50.3 4.7 6.5 4.4 -1.1 -1.1 NL8.4 59.4 -1.8 1.5 -0.1p6.1 3.7 249.1 56.9 5.9 -0.1 0.7 -1.0 -3.8 AT2.0 2.8 0.2 2.7 4.0 3.2 3.6 121.8 78.3 5.7 2.2 1.0 0.3 -0.5 PL-0.3 -61.2 -3.5 28.0 4.1 1.8 2.9 76.5 50.6 6.2 6.5 1.7 -2.3 -9.1 PT0.8 -109.9 -0.8 14.3 2.8 7.5 2.0 161.9 126.0 10.9 1.9 1.5 -3.9 -10.9 RO-2.2 -47.7 -5.6 36.5 15.4 3.2 1.7 50.9 35.1 5.9 8.2 1.6 -0.8 -5.7 SI4.9 -24.2 -2.0 18.1 3.7 6.2 0.9 76.3 74.1 7.9 5.3 3.3 -2.2 -9.0 SK-2.2 -68.3 -2.0 5.2 8.1 4.4 9.6 94.5 51.3 9.8 17.4e1.8 -4.2 -10.8 FI-1.2 0.1 -2.6 -4.9 -3.5 0.9 7.4 145.3 60.9 8.9 -4.0 1.3 0.2 -0.4 SE3.6 4.5 -5.5 -4.6 3.9 4.8 13.3 197.9 40.7 7.0 6.9 1.0 -0.2 -5.1 UK-4.5 -10.0 -10.8 -1.2 5.1 3.1 8.1 169.7 86.2 4.8 -1.7 0.9 -1.1 -4.9 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)Unemploymentrate,Activityrate,Long-termunemployementrateandYouthunemploymentrate:BE:revisioninthesurvey methodology; DK: data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2017External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 1.3: MIP Scoreboard 2016   

16 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.9 54.5 -0.4 -5.0 -0.9 1.2p23.8 194.8 104.9 8.3 2.4 0.1 0.1 -3.6 BG1.5 -47.9 -4.7 9.4 8.6p6.6 3.0 104.5 29.3 9.4 9.3 0.3 -2.9 -11.2 CZ0.7 -26.9 -3.7 2.4 2.7 6.7p4.3 68.7 36.8 5.1 16.3 2.1 -1.3 -8.4 DK8.3 38.2 -1.7 -2.9 2.1 4.7 2.8 209.5 37.2 6.4 5.1 1.9b-0.4b-2.6 DE8.1 51.4 -2.1 2.0 4.9 6.8 3.7 98.3 69.2 4.6 5.2 0.3 -0.6 -0.7 EE1.4 -39.2 4.4 -0.3 12.8 4.0 6.2 112.4 10.2 6.8 6.7 2.4 -1.7 -5.3 IE0.4 -171.7 -7.1 58.6 -17.7 7.1 -15.7 284.4 73.9 10.1 1.5 0.9 -3.8 -9.9 EL-1.1 -137.6 -4.0 -9.8 -3.3p-1.7e-2.1p125.1p178.5 25.0 -10.4 0.7 -1.5 -11.0 ES2.3 -85.5 -4.3 2.9 -1.2 4.4 -0.7 147.5 99.2 22.1 2.5 -0.1 -3.5 -11.1 FR-0.6 -13.0 -3.2 1.1 1.7 0.8 6.5 143.7 98.0 10.3 4.6 0.7e0.2 -0.3 HR1.8 -72.4 0.0 9.5 -5.6d2.0 -0.2 104.1 81.0 15.6 3.5 1.9 -4.4 -18.1 IT2.0 -11.9 -3.4 -4.0 1.5 0.2 0.1 111.7 134.8 12.1 3.3 1.5 -0.2 -2.2 CY-3.0 -134.3 -7.4 8.0 -9.4 1.8 12.2 329.5 103.4 14.7 -0.2 -0.2 -0.3 -9.8 LV-0.6 -59.0 4.8 10.2 16.7 7.3 2.3 80.5 40.2 10.1 4.7 2.3 -1.7 -5.9 LT0.0 -42.9 5.3 -1.4 15.0 4.4 4.3 56.5 39.9 9.2 15.8 3.1 -2.1 -7.4 LU5.1 54.6 -1.5 33.3 1.2 5.7 -9.6 309.0 20.1 6.3 5.2 0.1 0.4 2.2 HU2.7 -59.6 -5.2 -2.1 5.4 13.2 -3.1 76.6 75.5 6.5 19.5 5.4 -2.5 -13.7 MT4.1 35.4 -2.9 22.5 -1.1 4.8 15.3 136.4 55.5 5.3 3.9 4.3 -0.9 -2.0 NL7.6 61.4 -2.3 -3.0 -0.3 4.4 3.9 259.3 61.9 6.8 6.7 0.3 0.0 -2.4 AT2.3 4.1 0.9 -2.8 5.4 7.0 3.4 123.5 82.9 5.8 -2.8 0.7 0.6 1.5 PL-1.0 -61.6 -5.1 17.7 2.5 2.3 5.1 81.6 54.2 7.6 9.1 1.8 -2.2 -9.6 PT0.5 -110.3 -1.8 5.2 -0.5 6.1 -2.1 169.3 131.5 12.6 -0.3 0.7 -3.1 -9.9 RO-1.3 -49.0 -2.6 23.2 9.5 5.2 0.6 53.7 37.3 6.5 7.0 0.7 -0.2 -3.1 SI4.6 -28.9 -0.6 3.7 1.3 3.9 -0.8 81.1 78.7 8.9 3.4 1.1 -0.9 -6.4 SK-1.2 -66.8 -1.6 7.3 4.1 7.0 9.2 88.6 52.0 11.5 8.6e2.0 -4.2 -11.5 FI-1.4 5.2 0.4 -15.8 0.4 0.1 1.5 148.0 62.6 9.0 3.9 0.7 0.6 0.2 SE4.1 0.1 -9.2 -7.6 2.8 7.3 8.1 192.0 42.3 7.4 9.1 1.0 -0.1 -4.7 UK-4.9 0.3 0.2 1.1 3.7 5.5 11.4 167.8 86.8 5.4 11.7 0.9 -1.4 -7.7 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)LabourForceSurveyindicators:DK:datacollectionimprovement,introductionofCAWI(computer-assistedwebinterviewing) technique. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Internal imbalancesEmployment indicators¹Year2016External imbalances and competitiveness 
 
 
 
 
 
 
Table 1.4: MIP Scoreboard 2015   

17 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE1.0 45.2 -1.7 -13.6 0.5 0.8p12.1 176.1 105.2 8.5 2.7 0.7 1.0 2.3 BG0.9 -61.8 -4.3 13.2 14.5p1.2b-3.5 109.3 26.0 11.2 9.5 2.2 -1.2 -6.5 CZ0.0 -32.9 -8.2 -2.2 0.1 3.8p0.3 68.1 40.0 6.1 8.1 2.4 -0.6 -6.9 DK8.3 33.4 -1.7 -8.5 2.2 6.5 2.9 211.4 39.8 6.9 -0.9 -0.1 -0.4 -3.6 DE7.4 46.6 -1.5 -3.2 5.9 4.2 2.9 97.9 72.1 4.9 2.6 0.4 -0.4 -0.8 EE0.9 -39.9 5.8 7.3 15.3 7.3 2.7 112.8 10.0 7.4 8.6 1.9 -3.1 -7.8 IE2.3 -198.4 -6.4 37.8 -18.6 10.8 -2.3 305.1 76.7 11.9 9.6 1.0 -3.9 -10.6 EL-1.0 -135.4 -5.6 -14.0 -9.7p-3.4e-3.0p128.0p175.9 26.3 5.3 0.3 3.7 -5.5 ES1.9 -88.9 -3.2 -3.3 -1.1 3.7 -2.7 155.8 99.3 24.2 -2.0 0.0 0.4 -4.6 FR-0.6 -12.9 -2.9 -3.7 2.3 -1.8 4.6 142.8 95.6 10.3 2.2 1.0e0.5 0.3 HR0.8 -78.4 0.1 -5.8 -6.1d-2.6 -1.5 111.9 84.4 16.9 2.0 3.0 0.0 0.1 IT1.5 -19.3 -2.4 -9.7 2.0 -4.0 -1.4 115.1 135.3 12.2 1.4 0.5 1.3 5.0 CY-2.1 -154.5 -6.2 -4.8 -10.8 0.5b4.4 347.8 107.5 15.7 9.8 0.4 3.2 5.1 LV-2.0 -64.1 2.5 13.5 17.2 -2.4 -0.5 80.4 36.7 10.9 13.2 1.3 -3.3 -12.2 LT0.9 -43.6 4.2 6.5 11.8 4.7 2.6 55.3 42.7 10.5 7.3 2.3 -2.7 -10.4 LU5.2 50.0 -0.7 29.8 2.4 5.3 23.6 335.8 22.0 6.1 17.5 1.5b0.3b-1.4 HU2.3 -67.9 -7.2 -9.3 1.1 13.2 -2.5 83.2 76.1 8.2 0.4 4.9 -1.9 -10.9 MT2.9 37.4 -2.8 9.1 -1.4 4.0 8.8 134.8 57.8 5.7 3.6 4.9 -0.6 -2.2 NL8.2 48.9 -0.9 -6.7 -0.4 3.4 0.0 262.8 64.6 7.2 4.0 0.6 1.1 -0.4 AT2.0 2.2 1.3 -9.2 6.4 3.4 2.1 124.0 84.9 5.6 -0.1 0.4 0.5 1.2 PL-1.3 -62.1 -1.4 9.2 0.2 2.6 3.5 78.9 51.3 8.9 2.4 1.6 -1.1 -5.7 PT0.7 -118.9 -3.1 0.9 0.2 2.1 -1.9 179.5 131.2 14.4 -1.6 0.0 -0.5 -6.0 RO-1.0 -54.6 2.7 20.5 0.6 1.8 0.2 58.0 37.8 6.9 4.1 1.3 0.0 -0.9 SI4.1 -31.2 0.3 -4.6 -0.1 1.4 -5.0 87.4 82.6 9.6 -3.8 1.4 0.4 -4.3 SK0.3 -63.9 -1.2 4.1 2.7 5.5 5.1 80.6 51.9 13.0 10.4e1.5 -1.8 -7.5 FI-1.4 4.8 2.1 -23.1 3.2 -0.2 6.8 151.5 63.0 8.8 1.4 0.6 0.7 3.4 SE4.6 -3.9 -8.3 -9.3 2.6 11.9 7.5 191.5 43.9 7.8 1.8 1.4 0.0 -3.3 UK-4.8 -22.7 10.7 2.7 3.2 6.0 3.3 163.0 86.9 6.3 -8.5 0.8 -1.1 -6.6 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL;b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY.4)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.5)Privatesectordebt:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets;6) Activity rate, Long-term unemployement rate: LU change in sampling strategy and data collection technique. 7) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2015External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 1.5: MIP Scoreboard 2014   

18 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.5 44.8 -0.6 -13.3 4.3 -1.3 -2.0 162.2 107.0 8.2 2.5 1.0 0.8 4.5 BG0.6 -72.2 -2.8 5.6 17.6p1.4 2.3 125.6 27.1 12.2 7.9 3.1b0.6 -1.2 CZ-0.6 -36.6 -10.0 -6.2 4.0 1.8 1.7 71.5 42.2 6.7 5.2 3.0b0.0 -2.2 DK7.7 43.3 -1.2 -15.9 2.3 3.2 -0.3 214.0 44.3 7.4 7.3 -1.2 -0.1 -2.1 DE7.0 40.8 -0.4 -9.5 7.4 2.2 -0.3 98.4 75.7 5.2 4.6 0.4b-0.6 -0.8 EE-0.3 -46.7 4.8 20.5 14.8 12.9 5.6 115.4 10.6 8.7 13.0 0.5 -3.8 -7.4 IE-0.3 -164.7 -3.6 -14.6 -3.7 15.5 2.6 278.4 104.4 13.7 19.5 0.6 -2.2 -6.2 EL-1.9 -131.9 -5.6 -19.4 -10.4p-5.1e-3.0p130.8p178.9 26.2 -7.9 0.1 10.7 7.7 ES1.3 -95.9 -1.0 -11.5 -3.6 0.2 -6.5 168.2 100.7 25.1 -0.6 0.3 4.0 7.0 FR-0.8 -15.6 -1.3 -14.5 4.4 -1.7 3.2 141.5 94.9 10.1 5.6 1.3e0.5 1.6 HR-0.9 -86.8 -0.8 -19.4 -6.8d-1.3 -0.1 117.2 84.7 16.8 0.6 2.0 1.7 8.3 IT0.9 -21.0 0.2 -15.5 2.6 -4.9 -0.3 118.9 135.4 11.8 0.5 1.8 3.4 13.5 CY-3.4 -163.8 -1.7 -20.1 -6.5 -1.1 -0.7 352.8 109.2 14.6 11.6 0.8 6.1 13.6 LV-2.9 -67.1 0.4 12.0 16.0 4.3 -4.4 82.2 40.9 12.6 11.4 1.8 -4.2 -11.4 LT1.2 -46.8 1.7 19.4 8.7 6.4 0.2 54.2 40.6 12.0 16.7 2.3 -3.2 -13.3 LU5.4 59.3 0.5 16.3 7.1 3.9 28.7 324.9 22.7 5.7 37.8 2.9 0.2 5.9 HU2.1 -80.4 -6.8 -16.8 6.2 3.0 -0.2 90.7 76.8 9.6 8.7 4.6 -1.5 -5.6 MT1.8 43.0 0.1 -12.5 2.8 2.1 7.4 143.9 63.4 6.0 5.9 6.0 -0.3 -1.6 NL9.5 48.0 0.7 -11.4 3.7 -0.1 4.3 267.2 67.8 6.8 8.0 0.9 1.3 2.7 AT2.0 3.4 1.9 -15.8 7.9 1.4 0.9 124.8 84.0 5.3 -0.8 0.8 0.3 1.4 PL-2.3 -69.1 -1.0 4.7 2.9 1.2 4.6 78.1 50.4 9.8 0.7 2.2 0.2 -1.9 PT0.1 -123.8 -1.8 -7.3 -2.9 4.0 -5.7 190.5 132.9 15.4 -7.5 -0.4b2.2 4.5 RO-2.2 -57.3 -1.0 20.1 6.7 -3.1 -2.3 62.1 39.2 6.9 1.2 1.6 -0.1 0.1 SI3.2 -38.4 1.2 -12.7 0.1 -6.2 -4.7 97.9 80.3 9.6 -0.1 0.6 1.7 4.5 SK1.3 -63.5 1.2 1.9 2.4 1.5 5.0 79.0 53.5 13.8 9.4e1.6b0.1 -4.0 FI-1.7 -3.1 2.7 -27.3 7.6 -1.5 1.7 148.8 59.8 8.2 9.3 0.5 0.2 0.4 SE5.1 -2.3 -3.7 -9.6 7.5 8.5 4.6 193.3 45.2 8.0 12.6 1.6 -0.1 0.1 UK-4.3 -22.8 10.1 -9.2 4.0 6.4 6.7 164.5 86.2 7.2 4.8 1.2 -0.5 -4.3 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Internal imbalancesEmployment indicators¹Year2014External imbalances and competitiveness 
 
 
 
 
 
Table 1.6: MIP Scoreboard 2013   

19 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.4 43.2 -0.2 -13.0 7.4 0.1 7.9 163.0 105.5 7.7 1.2 -0.2 -0.1 1.3 BG0.3 -73.5 -0.9 -0.2 15.3p0.4 2.6 130.6 17.1 12.2 1.1 1.7b2.7 6.5 CZ-1.4 -41.4 -3.1 -9.8 4.2 -0.8 4.4 73.7 44.9 6.9 11.4 2.7 0.0 0.6 DK6.9 37.2 -2.5 -17.8 1.5 3.1 -3.0 216.1 44.0 7.7 1.8 -1.3 0.3 -0.7 DE6.6 34.7 -1.8 -13.0 6.1 1.6 2.0 103.0 78.7 5.5 -6.4 0.9b-1.0 -2.0 EE-0.1 -49.7 3.1 9.9 11.2 7.3 4.8 115.2 10.2 10.3 10.3 1.2 -3.8 -14.2 IE-1.2 -133.4 -3.8 -10.6 -0.7 -0.1 -1.4 267.5 119.9 14.9 1.9 0.2 1.1 -1.4 EL-4.5 -130.4 -4.4 -26.6 -10.0p-9.1e-4.0p132.3p177.4 23.3 -17.7 -0.3 12.8 25.3 ES-0.2 -92.8 -0.3 -10.3 -5.1 -10.0 -10.1 178.1 95.8 24.1 -9.9 0.8 5.7 14.0 FR-0.8 -16.6 -2.2 -14.2 4.6 -2.6 2.1 137.4 93.4 9.8 0.5 0.9e0.5e1.6 HR-1.6 -89.5 -3.9 -23.3 -4.6d-5.7 -0.6 117.2 81.2 15.6 2.8 -1.4 4.4 17.6 IT-0.6 -23.3 0.1 -20.4 2.9 -7.5 -2.9 121.2 132.4 10.4 -2.7 1.4 2.9 12.1 CY-2.8 -162.5 -0.8 -12.0 -0.7 -3.8 -12.0 341.2 104.0 11.9 -3.4 0.0 4.8 22.3 LV-3.2 -66.7 -1.7 5.9 8.0 6.7 -0.6 91.0 39.4 14.4 5.7 1.0 -3.1 -13.0 LT-1.2 -50.6 -0.6 11.9 6.1 0.3 -0.3 56.7 38.7 13.5 -1.2 2.2 -2.3 -13.8 LU5.7 58.9 0.8 8.2 7.6 3.3 27.8 313.3 23.7 5.3 10.3 1.7 0.5 1.1 HU1.9 -82.2 -3.8 -22.9 7.5 -4.4 -0.9 94.6 77.3 10.7 -1.3 2.8 -0.6 0.2 MT-0.8 26.9 -1.2 -0.6 9.8 -1.4 2.3 153.0 68.4 6.2 0.0 5.9 -0.3 -0.5 NL9.5 30.7 0.5 -11.3 4.8 -7.9 9.7 257.7 67.7 6.0 -1.6 1.5 1.2 2.1 AT1.7 1.3 0.7 -18.4 6.4 3.0 1.0 127.1 81.3 5.0 -3.2 1.1 0.1 0.2 PL-3.4 -68.9 -4.3 -0.3 3.1 -4.8 3.3 75.4 55.7 10.0 7.4 1.7b1.4 3.6 PT-2.0 -120.2 -0.6 -8.1 -3.8 -2.7 -1.6 202.1 131.4 15.0 -5.4 -0.7 3.6 9.9 RO-3.6 -62.8 0.5 13.8 -4.7 -2.8 -1.4 66.8 37.6 7.0 0.8 0.0b0.8 1.6 SI1.3 -39.3 -0.6 -18.2 0.1 -7.2 -3.7 107.2 70.0 9.1 -10.1 -1.0 2.0 6.9 SK-0.7 -62.2 2.1 -4.1 2.6 -0.4 5.0 75.2 54.7 14.0d1.4e1.2 0.8 -0.2 FI-1.8 3.0 0.2 -32.5 9.3 -1.3 2.8 147.0 56.2 7.9 -11.6 0.7 -0.3 -1.5 SE5.4 -15.9 5.1 -17.2 9.0 4.5 4.6 194.3 40.5 7.9 9.7 2.0 -0.2 -1.2 UK-3.3 -17.8 3.4 -11.6 3.9 0.7 6.9 170.8 84.2 7.8 -7.7 1.0 0.2 0.8 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 1.7: MIP Scoreboard 2012   

20 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.1 40.8 -4.3 -15.5 4.9 0.2 14.7 191.0 104.8 7.7 -5.1 0.0 -0.1 -2.1 BG-0.8 -77.7 -4.0 -1.0 12.2p-5.2 2.6 128.3 16.7 11.3d11.7 -0.1 3.8 13.0 CZ-2.4 -45.9 0.5 -4.5 3.8 -3.6 2.9 70.7 44.5 7.0 5.2 1.5 1.0 2.9 DK6.5 36.1 -7.8 -17.7 -0.2 -4.9 7.9 224.0 44.9 7.8 2.5 -1.6 1.5 2.3 DE6.4 28.7 -9.0 -16.8 2.5 2.1 1.4 101.9 81.1 6.1 3.2 0.9 -1.1 -3.1 EE0.4 -50.7 -3.6 6.9 0.1 3.1 7.6 117.2 9.8 13.0 10.9 0.8 1.8 -6.5 IE-2.1 -137.8 -12.2 -18.3 -9.9 -14.6 -0.5 279.1 119.9 15.2 -1.8 -1.9 5.7 6.3 EL-7.4 -115.9 -5.0 -26.3 -2.3p-12.1e-4.7p132.6p159.6 18.4 -2.1 0.1b10.6 29.6 ES-2.1 -88.9 -5.3 -17.5 -5.0 -16.5 -11.2 188.5 86.3 22.0 0.6 1.2 6.7 15.2 FR-0.8 -12.8 -7.8 -18.3 4.1 -2.0 4.2 138.3 90.6 9.4 1.4 0.5e0.8e0.8 HR-2.0 -91.6 -8.4 -25.8 -1.6d-4.7 -2.9 118.4 70.1 13.8 0.9 -1.7 5.1 16.8 IT-2.1 -23.0 -6.2 -25.7 2.0 -5.0 -0.9 124.2 126.5 9.2 7.2 1.2 2.2 10.0 CY-5.9 -141.1 -5.9 -21.7e3.2 -5.5 0.8 326.0 80.3 8.7 12.2 0.5b3.0 13.9 LV-1.7 -67.5 -8.6 7.9 -6.5 -0.2 -5.4 96.8 41.6 16.9 5.6 0.9 3.3 -4.8 LT-1.7 -54.3 -6.7 27.0 -4.2 -3.3 0.3 61.1 39.8 15.5 -0.7 2.2 3.3 -2.9 LU6.1 58.4 -2.4 -5.6 5.9 2.1 25.9 303.7 22.0 4.8 15.1 0.7b0.4 1.5 HU0.8 -92.2 -0.8 -23.2 7.7 -9.5 -6.0 101.1 78.5 11.1 -5.8 2.5 0.8 1.8 MT-2.9 19.6 -7.6 12.2 8.6 0.4 0.1 162.4 67.7 6.5 8.6 4.5 0.1 -0.7 NL8.6 26.7 -6.0 -12.8 2.6 -7.9 6.1 252.1 66.2 5.3 6.0 0.9 0.8 1.5 AT2.0 -3.2 -4.7 -21.7 3.8 4.8 1.2 128.2 81.9 4.8 0.4 0.8 0.0 -1.3 PL-4.8 -65.3 1.4 1.4 5.3 -6.6 4.8 73.4 53.7 9.8 10.7 1.8 1.6 5.9 PT-5.9 -119.3 -4.0 -17.3 -6.2 -8.7 -3.9 210.5 129.0 13.6 -3.0 0.0 3.5 12.7 RO-5.0 -67.6 -2.0 12.3 6.8 -9.1 0.3 72.1 37.0 7.0 4.8 1.7 0.8 2.6 SI-0.1 -44.0 -4.5 -20.9 0.1 -8.4 -2.8 112.2 53.6 8.1 -0.7 -1.4 2.5 7.0 SK-2.9 -60.6 -3.2 -10.3 -0.3 -6.0 1.9b71.1b51.8 14.1d1.1b1.0 2.9 6.4 FI-0.7 10.6 -8.3 -32.4 5.8 -0.3 7.1 147.7 53.6 8.0 -1.3 0.2 0.2 -2.5 SE5.6 -15.5 10.3 -19.5 4.0 0.7 2.4 191.0 37.7 8.1 5.6 1.4 0.4 -1.3 UK-2.8 -28.1 6.0 -21.3 3.0 -1.5 1.7 176.5 83.2 7.9 -3.5 0.4 0.8 2.1 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Internal imbalancesEmployment indicators¹Year2012External imbalances and competitiveness 
 
 
 
 
 
Table 1.8: MIP Scoreboard 2011   

21 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.4 51.4 -1.5 -7.8 5.1 1.1 22.2 180.5 103.5 7.8 5.4 -0.4 0.2 0.7 BG-3.2 -82.8 1.9 11.1 17.9 -8.6 3.5 129.1 15.2 9.5d4.3 -1.9b3.4b13.1 CZ-2.6 -45.2 -0.5 7.4 3.4 -1.7 2.1 68.3 39.8 6.9 4.3 0.8b0.5b8.2 DK5.5 27.8 -2.5 -13.8 3.6 -4.0 4.4 221.0 46.1 7.3 1.6 -1.4 1.3 6.8 DE5.9 23.3 -4.9 -9.4 5.6 1.6 2.0 102.4 79.8 6.8 3.1 1.4b-1.1b-1.9 EE1.9 -54.0 -0.8 24.4 -2.2 3.1 -0.8 118.9 6.1 14.2 -0.2 0.5 5.4 10.4 IE-2.5 -139.3 -9.6 -10.3 -13.7b-17.9 16.5 274.5 111.1 14.2 -2.3 -3.6 7.1 16.1 EL-10.3 -88.8 1.8 -17.2 6.8p-7.5e-6.5p130.2p172.1 13.4 -3.7 0.6 5.1 22.8 ES-3.5 -91.9 -2.5 -8.3 -1.4 -9.7 -4.2 198.2 69.9 19.7 2.8 1.2 6.9 21.7 FR-0.7 -8.7 -4.4 -15.4 5.4 4.0 6.4 135.3 87.8 9.2 6.9 0.3e1.1e3.6 HR-3.6 -93.1 -4.7 -15.6 6.8d-1.9 -2.5 121.0 64.4 11.6 1.9 -1.7 3.1 13.0 IT-2.7 -18.2 -3.2 -19.2 4.9 -1.5 3.1 121.8 119.7 8.2 5.1 -0.8 1.3 8.0 CY-6.6 -141.9 -3.0 -11.4e9.4 -4.4 17.1 319.8 65.9 6.5 9.6 -0.1 1.1 13.4 LV2.1 -74.7 -2.4 26.5 -20.6 4.0 -2.4 115.2 43.1 17.7 -6.2 -1.4 6.9 17.4 LT-0.5 -53.6 1.7 26.0 -7.8 2.2 -1.8 68.8 37.2 15.7 2.0 3.0 6.7 19.3 LU6.6 28.9 0.1 -3.8 8.8 0.6 21.4 284.3 18.7 4.8 10.9 1.1 -0.2 -0.9 HU0.1 -104.2 -4.2 -4.3 3.8 -7.0 -4.4 113.6 80.8 10.7 6.2 1.2 1.6 6.5 MT-5.6 6.3 -5.0 17.6 11.1 -3.5 6.8 168.5 70.2 6.7 10.4 2.7 0.4 1.6 NL7.0 20.1 -2.4 -8.4 5.3 -4.0 8.2 247.2 61.7 4.8 10.3 0.3 0.4 1.4 AT2.4 -1.9 -1.8 -12.5 5.8 3.0 3.0 129.4 82.4 4.9 1.5 0.7 0.2 0.4 PL-4.8 -62.4 -11.4 15.1 4.2 -4.6 6.6 73.9 54.1 9.2d4.8 1.9 1.2 8.6 PT-8.8 -104.1 -3.0 -9.9 -0.5 -6.5 -0.9 204.2 114.4 11.9 -4.5 -0.3b2.6b8.6 RO-4.9 -66.1 -3.2 49.9 2.2 -15.6 2.8 73.7 34.0 6.9 4.5 1.2 0.5 6.3 SI-0.9 -39.8 -1.1 -5.6 7.7 0.9 0.5 112.9 46.5 7.1 -1.2 -1.5 1.7 5.3 SK-4.3 -63.9 3.4 -2.8 5.4 -5.2 2.9 69.5 43.5 13.4d0.6e-0.1b2.6b14.4dFI0.7 13.9 -2.8 -23.5 9.0 -0.1 5.3 144.6 48.3 8.1 28.8 -1.1 0.5 3.6 SE5.8 -8.3 3.2 -12.2 4.1 1.2 7.0 189.1 37.3 8.2 1.8 0.6 0.7 2.6 UK-2.8 -11.6 -7.8 -25.9 5.8 -5.0 1.6 176.8 80.1 7.8 10.4 -0.3b1.3 6.3 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 1.9: MIP Scoreboard 2010   

22 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.8 56.3 0.5 -11.6 7.4 1.2 -0.7 168.7 100.3 7.7 -1.2 0.6 0.2 3.6 BG-10.7 -92.4 9.7 8.0 30.2 -12.4e-0.3 137.3 15.4 7.6d4.3 0.4b0.6b7.8dCZ-2.6 -46.0 12.1 11.7 6.4 -2.2 2.6 67.9 37.4 6.1 3.2 0.3 0.2 7.6 DK4.3 12.8 0.2 -10.6 9.5 0.3 -2.9 220.6 42.6 5.9 9.7 -0.7 0.9 8.0 DE5.8 25.8 -3.8 -8.1 8.2 -0.5 0.0 106.4 82.4 7.3 -0.8 1.1b-1.6b-2.0 EE-1.4 -69.4 4.6 9.5 12.4 1.8 -3.2 136.7 6.6 11.9d-8.6 0.7 5.3 22.8 IE-4.0 -113.5 -5.4 -6.3 -4.8 -11.6 2.2 257.0 86.0 11.3 6.3 -4.0b5.5 18.9 EL-12.5 -99.0 2.9 -15.7 14.0 -8.0e2.4 128.1 146.2 10.0 8.4 1.3 1.5 10.3 ES-5.5 -88.6 -0.3 -11.7 6.3 -3.7 0.9 203.2 60.5 16.4 -1.5 1.7 5.6 23.4 FR-0.6 -9.3 -2.2 -17.2 7.4 3.6 4.6 132.0 85.3 8.6 3.5 0.5e0.6e3.8 HR-6.6 -95.4 1.8 -10.6 12.0d-7.6 4.7 123.6 57.8 9.9 4.1 -0.6 0.6 6.9 IT-2.7 -20.1 -1.9 -19.1 8.5 -0.9be5.0 122.8 119.2 7.6 4.2 -0.4 1.1 7.5 CY-10.7 -122.2 0.0 -15.8e10.4 -8.1 20.5 309.5 56.4 5.1 4.2 -0.3 0.6 6.4 LV-0.9 -83.0 6.7 21.7 -2.0 -8.7 -9.1 134.0 47.3 14.9 0.5 0.4 7.2 25.6 LT-3.6 -60.0 7.2 16.5 0.5b-8.6 -5.9b74.8b36.3 12.5 -0.1 2.3 6.0 27.3 LU7.1 -20.4 1.2 3.2 16.0 4.2 -22.5 284.2 19.8 4.9 13.1 1.3b0.1 0.2 HU-2.5 -106.7 -1.3 0.8 6.2 -5.9 -4.2 114.4 80.6 9.7d-0.2 0.3 2.0 8.3 MT-5.7 12.1 -0.7 37.8 9.2 -1.0 7.7 169.9 67.5 6.6 14.3 1.6 0.4 -0.3 NL5.8 11.0 -1.5 -8.2 7.7 -3.3 2.8 244.4 59.2 4.4 5.4 1.2 -0.2 1.7 AT3.3 -5.2 -2.0 -12.6 9.0 4.3be0.3 132.3 82.7 4.7 -1.9 0.9b-0.1 0.1 PL-5.3 -65.1 -1.3 24.7 11.3b-6.0e4.2 69.7 53.1 8.3d13.7 2.1b-1.9b2.1 PT-10.8 -107.2 -3.1 -7.6 4.4 -1.0 5.3 201.8 100.2 10.5 11.5 -0.2 1.9 6.8 RO-7.1 -64.1 -10.9 53.3 36.9 -12.7 0.9 74.7 29.6 6.4 4.9 1.9b-0.8b2.8 SI-2.4 -43.1 1.2 -1.4 15.5 -1.3 2.0 115.2 38.3 5.9 -3.4 0.2 1.0 4.6 SK-4.9 -61.5 11.0 3.8 9.0 -4.9 2.9 66.0 41.0 12.1 2.3e0.4 0.9 13.3 FI2.0 15.5 -1.3 -19.7 12.5 4.8 7.1 146.2 46.9 7.7 20.0 -1.1 0.5 4.9 SE6.6 -5.5 -3.3 -12.8 6.8 6.5 5.3 186.7 38.2 7.7 2.8 0.0 0.8 5.6 UK-3.5 -7.9 -20.4 -23.9 6.8 4.0 -0.8 182.5 74.6 7.0 7.3 -0.1b1.2 5.6 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. d:Definition differs. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforBGandPL;e=estimatebyNCBforEL,IT,andAT.4)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.5)Nominalunitlabourcost,Privatesectordebt,PrivatesectorcreditflowLT:temporaryseriesbreakcausedbyimplementationofbenchmarkrevisionin2019(2010-2018).6)ActivityrateforIE:changeinthesampling design. 7) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Internal imbalancesEmployment indicators¹Year2010External imbalances and competitiveness 
 
 
 
 
 
Table 1.10: MIP Scoreboard 2009  

23 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.9 58.2 4.0 -9.0 9.9 0.3 5.4 173.7 100.2 7.5 0.5 0.4 -0.7 1.4 BG-18.0 -97.0 18.3 19.0 35.2 -21.0e1.8 140.4 13.7 6.4 3.8 2.7 -2.0 -3.2 CZ-2.9 -43.9 13.5 27.2 9.0 -4.7 0.5 65.9 33.6 5.5 2.2 -0.2 -1.9 -0.9 DK2.6 0.9 5.5 -1.1 16.4 -13.0 -1.9 232.2 40.2 4.6 5.5 -0.4 -0.2 5.7 DE6.1 25.1 2.9 -6.8 9.2 0.7 -1.1 113.6 73.0 7.8 -6.3 1.4 -2.2 -2.5 EE-7.0 -78.2 13.6 16.3 38.5 -36.3 -5.4 145.8 7.2 7.9d-4.6 1.2 0.8 15.3 IE-5.8 -115.7 5.2 1.9 8.7 -13.7 -4.5 256.1 61.5 8.1 3.4 -1.9 2.1 15.7 EL-14.2 -87.5 4.8 -10.3 15.8 -4.7e2.2 116.5 126.7 8.6 10.1 0.7b-1.0b0.7 ES-7.5 -93.5 4.6 -8.8 11.1 -5.7 -1.2 204.2 53.3 12.5 2.8 2.0 2.5 19.8 FR-0.4 -14.8 2.6 -13.6 8.0 -4.7 3.3 130.6 83.0 8.2 -0.7 0.6e-0.5e1.6 HR-8.5 -89.1 5.9 -4.1 15.8d-7.9 2.5 118.9 48.7 9.3 4.0 2.6e-1.6 -3.5 IT-2.0 -22.3 3.6 -18.0 10.7 0.0e0.8 122.2 116.6 6.8 5.1 -0.3 0.1 3.5 CY-11.0 -116.0 3.6 -9.1e12.5 -6.9 10.7 301.5 54.3 4.3 24.2 0.0b-0.3b3.8 LV-8.4 -82.5 23.5 52.6 36.7 -34.9 -7.6 137.4 36.2 10.4 -9.2 2.5 2.1 19.7 LT-8.8 -61.1 16.7 30.8 13.0 -32.9 -9.4 83.4 28.0 8.0 -4.5 2.0 0.7 19.6 LU8.2 -28.9 3.8 11.9 17.6 -0.6 7.4 332.2 15.7 4.7 6.8 2.0b-0.2b1.0 HU-5.0 -113.4 7.7 10.3 12.1 -9.2 5.9 115.9 78.2 8.4d1.6 -0.8 0.8 7.3 MT-4.6 12.6 5.9 45.8 11.2 -6.1 15.2 174.5 67.6 6.5 5.2 1.5 0.2 -1.0 NL5.8 1.4 2.7 -5.4 11.3 -3.0 9.7 245.6 56.8 4.1 7.1 2.7 -1.0 0.2 AT3.6 -5.0 2.0 -6.1 10.2 3.6e1.3 131.9 79.9 4.8 -2.1 1.9 -0.3 0.9 PL-5.7 -57.3 -4.1 34.4 12.3 -5.4e4.4 67.1 49.4 8.3d8.6 1.3 -5.3 -9.2dPT-10.6 -110.7 1.1 -8.7 6.5 1.0 5.3 204.2 87.8 9.5 8.8 -0.2 0.3 4.1 RO-9.9 -59.6 -4.9 69.4 24.6 -26.5e-1.6 69.2 21.8 6.2 15.1 -0.5 -1.9 -0.2 SI-3.5 -40.6 5.2 9.9 17.9 -10.2 3.0 113.5 34.5 5.1 7.4 0.9 -1.1 -0.3 SK-5.3 -66.4 27.1 9.5 11.1 -12.7 3.0 68.4 36.4 11.0 -5.0e-0.2 -3.7 0.6 FI2.9 2.6 5.0 -13.4 14.7 -0.5 0.7 140.5 41.5 7.2 7.5 -0.2 -0.5 2.8 SE7.3 -7.1 -8.5 -15.9 14.6 1.1 5.9 199.2 40.9 6.9 4.0 0.1 0.1 3.5 UK-3.5 -16.2 -19.9 -19.8 9.6 -9.5 -3.9 189.7 63.3 6.2 -17.0 0.0 0.7 5.2 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforBG,PLandRO;e=estimateby NCB for EL, IT, and AT. 4) Nominal unit labour cost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2009External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard   
Table 2.1: Auxiliary indicators, 2018 

24 

Year2018Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.5 23.8 na-1.0 36.6 -11.8 170.1 -3.5 2.8 -3.4 0.3 -2.2 0.1 2.3p0.7 9.4p5.8 60.9 13.1pBG3.1 18.8 0.8p6.4 35.4 1.9 82.3 -3.4 -1.1 11.1 7.5 -1.7 3.2p7.7p43.3 24.0 2.7 23.4 7.5pCZ3.0 25.5 1.9p0.6 28.3 3.5 77.5 -2.9 7.6 9.7 1.9 1.0 1.6 2.1p5.0 30.0p4.0 32.3 12.5pDK1.5 22.4 3.1p7.1 11.0 0.3 55.5 -0.2 -1.8 -3.5 1.6 -3.0 -0.3 2.3p-2.2 14.8 4.8 126.4 16.4pDE1.5 21.2 3.1e7.4 44.7 2.7 44.7 -2.0 0.4 1.1 3.5 -1.3 0.2 1.4p11.4 21.7 6.3 53.6 13.9pEE4.8 23.9 1.4p3.4 25.7 3.8 92.7 -1.0 4.1 -1.3 4.3 0.9 3.5 1.3p16.2 17.1 4.6 38.9 6.9pIE8.2 23.4 1.2 -5.8 -251.7 16.8 466.2 -1.4 -3.0 73.8 -0.5 7.0 4.8 5.5p-42.0 31.4 2.4 41.7 6.7pEL1.9p11.1p1.2p-2.6 -130.6 1.8 18.5 -2.4p-1.5 4.7 3.6p5.3p0.2p41.6p-15.1 -1.9e0.7p56.5 11.5pES2.4p19.4pna2.4 -53.6 3.4 65.4 -2.1p-0.2 2.5 -2.3p-1.2p0.1p3.7p-14.5 18.6 5.3p59.0 13.6pFR1.7p22.9pna-0.6 -33.0 2.2 45.8 -1.9p-0.1 -2.2 2.8p0.1p0.7p2.7p-0.3 7.2 6.4p60.0 15.3pHR2.6p20.1pna3.3 -13.7 1.9 48.1 -3.2p1.2 20.5 1.8p4.0p0.8d7.3p-15.5 11.1 na34.2 7.5pIT0.8 17.7 na2.6 -6.2 1.9 27.3 -2.3 -1.3 -1.7 6.0 -1.6 -0.1 8.4p-1.2 -1.4 4.2 41.0 13.1pCY4.1p19.1pna-3.8 -175.0 22.2 1890.1 -4.2p-3.2 14.2 1.4p1.2p0.0p20.2p-9.7 4.4 5.8p97.0 14.1pLV4.6 22.5 0.6p1.1 -2.4 1.3 55.5 -3.4 1.3 6.5 5.0 0.6 3.0 5.3p-4.4 29.3 2.2 20.8 7.8pLT3.6 20.5 0.9p1.8 -2.7 2.7 43.4 -4.0 3.0 1.4 4.5 2.9 2.2 2.6p7.9 23.2 2.7 22.9 10.4pLU3.1 16.8 na6.1 -3523.8 -722.2 7466.2 -3.3 0.4 8.5 -0.2 -2.9 -0.6 0.8p13.4 19.9 3.8 66.3 14.6pHU5.1 25.2 1.5 2.1 -4.2 -43.8 163.1 -3.8 -1.0 6.3 0.3 0.9 2.7 5.3p9.1 45.5 3.0 18.0 9.4pMT6.8 19.0 0.6 12.3 248.0 32.2 1568.6 -8.5 0.3 21.5 2.0 -0.8 1.3 3.1p4.5 17.5p5.2 49.4 12.1pNL2.6p20.3pna10.8 -14.0 -27.3 581.8 -1.5p-0.8 -0.4 1.1p0.3p0.1p1.9p-1.8 23.6 4.8p102.4p16.1pAT2.4 23.9 3.2p2.3 -5.0 0.9 67.4 -2.5 1.7 1.8 1.5 2.5 0.7 2.6p4.7 19.6 4.5 49.6 11.4pPL5.1 18.2 1.2p1.1 -16.9 2.8 47.8 -2.8 -3.0 23.2 3.8 3.6 4.8p6.2p-0.1 12.7 2.0 35.1 9.3pPT2.4p17.6p1.4p1.4 -57.1 2.7 79.0 -2.5p-0.3 7.2 4.8p0.4p0.1p9.4p-6.6 29.0 3.0p66.9 11.0pRO4.0p21.2pna-3.4 -3.9 3.1 44.0 -1.6p-4.1 21.2 5.3p2.0p3.7p5.3p25.9 18.6 3.5p16.0 9.3pSI4.1 19.2 2.0p5.2 -1.9 2.8 39.1 -2.9 -0.4 18.0 2.6 3.2 0.9 6.0p-0.3 22.5 2.1 27.0 8.2pSK4.0 21.2 0.8 -1.3 -16.5 2.4 69.2 -4.1 -0.4 1.1 -1.7 2.0 2.0 3.2p3.9 21.3 3.4 42.1 9.5pFI1.7 23.7 2.8 -1.3 3.9 -1.9 48.9 -2.0 -1.4 -5.0 3.4 -1.2 -0.9 1.5p1.9 2.9 7.3 65.4 16.1pSE2.3 25.9 3.3 1.7 -11.4 1.6 81.1 -1.3 -7.6 -8.2 -1.1 -0.3 0.4 1.0p6.2 14.4 5.4 87.9 18.8pUK1.4 17.0 na-4.5 4.9 1.3 83.9 -0.7 -16.2 -5.7 3.3 -4.3 0.2 1.2p7.8 15.4 3.8 87.2 15.3pFlags:d:Definition differs. e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019. 2) House price index e = estimate by NCB for EL. 3) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.1 (continued): Auxiliary indicators, 2018 

25 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.4 68.6 2.9 15.8 9.2 -3.0 19.8 -1.3 16.4 1.5 4.9 -0.9 12.1 -2.8 BG-0.1p71.5 3.0 12.7 15.0 -4.3 32.8 -8.5 22.0 0.0 20.9 -13.3 9.0 -2.6 CZ1.3 76.6 0.7 6.7 5.6 -1.9 12.2 -1.8 9.6 -0.1 2.8 -2.8 4.5 -2.3 DK1.8 79.4 1.1 10.5 6.8 0.6 17.4 -0.3 12.7 0.5 3.4 -0.3 11.1 -0.5 DE1.4 78.6 1.4 6.2 5.9 -0.3 18.7 -1.3 16.0 -0.7 3.1 -1.3 8.1 -1.7 EE1.2 79.1 1.3 11.9 9.8 -1.0 24.4 0.2 21.9 0.3 3.8 -0.7 5.2 -1.4 IE3.2 72.9 2.1 13.8 10.1 -4.2 nanananananananaEL1.7p68.2 13.6 39.9 14.1 -3.1 31.8 -3.9 18.5 -2.9 16.7 -5.5 14.6 -2.2 ES2.2p73.7 6.4 34.3 12.4 -3.2 26.1 -2.5 21.5 -0.6 5.4 -1.0 10.7 -4.7 FR1.0p71.9 3.8 20.7 11.1 -0.9 17.4 -0.3 13.4 -0.2 4.7 0.2 8.0 -0.6 HR1.8d66.3 3.4 23.4 13.6 -4.5 24.8 -4.3 19.3 -0.7 8.6 -5.1 11.2 -3.2 IT0.9 65.6 6.2 32.2 19.2 -2.2 27.3 -1.4 20.3 0.4 8.5 -3.0 11.3 -0.4 CY4.1p75.0 2.7 20.2 13.2 -2.1 23.9 -5.0 15.4 -0.8 10.2 -5.2 8.6 -2.3 LV1.6 77.7 3.1 12.2 7.8 -2.7 28.4 -2.5 23.3 0.8 9.5 -6.9 7.6 -0.2 LT1.4 77.3 2.0 11.1 8.0 -1.2 28.3 -1.0 22.9 0.7 11.1 -2.8 9.0 -0.2 LU3.7 71.1 1.4 14.1 5.3 -0.9b21.9 3.4 18.3 3.0 1.3 -0.7 8.3 2.6 HU2.4 71.9 1.4 10.2 10.7 -0.9b19.6 -8.6 12.8 -2.1 10.1 -9.3 5.7 -3.7 MT5.4 74.7 1.1 9.1 7.3 -3.2 19.0 -4.0 16.8 0.2 3.0 -5.5 5.5 -3.7 NL2.5p80.3 1.4 7.2 4.2 -0.5 16.7 0.3 13.3 1.7 2.4 -0.2 8.6 -1.6 AT1.7 76.8 1.4 9.4 6.8 -0.7 17.5 -0.8 14.3 0.4 2.8 -0.8 7.3 -0.9 PL0.3p70.1 1.0 11.7 8.7b-2.3b18.9 -4.5 14.8 -2.8 4.7 -3.4 5.6 -1.3 PT2.3p75.1 3.1 20.3 8.4 -2.9 21.6 -5.0 17.3 -2.2 6.0 -3.6 7.2 -3.7 RO0.2p67.8 1.8 16.2 14.5 -3.6 32.5 -4.9 23.5 -1.9 16.8 -5.9 7.4 -0.5 SI3.2 75.0 2.2 8.8 6.6 -2.9 16.2 -3.0 13.3 -1.0 3.7 -2.1 5.4 -2.0 SK2.0 72.4 4.0 14.9 10.2 -3.5 nanananananananaFI2.6 77.9 1.6 17.0 8.5 -2.1 16.5 -0.3 12.0 -0.4 2.8 0.6 10.8 0.0 SE1.9 82.9 1.2 16.8 6.1 -0.6 18.0 -0.6 16.4 0.1 1.6 0.5 9.1 0.4 UK1.2 77.9 1.1 11.3 10.4 -0.7 nananana4.6p-1.5pnanaActivity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. p:Provisional. 1)EmploymentrateforHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.2)YoungpeopleneitherinemploymentnorineducationandtrainingforPL:changesintheweightingprocedure.3)Officialtransmissiondeadlinefor2018datafortheIncomeandLivingConditions (EU-SILC) indicators is 30 November 2019 while data were extracted on 25 October 2019.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2018Employment rate(1 year % change) 
 
 
 
 
 
 
 
 
Table 2.2: Auxiliary indicators, 2017 

26 

Year2017Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE2.0 23.1 2.7 1.3 46.5 -6.9 200.8 -2.4 2.6 -1.7 1.7 -0.3 0.3 2.7e2.1 8.2 5.7 59.8 13.2eBG3.5 18.4 0.8 4.5 32.1 3.4 86.8 -3.0 -3.2 17.1 5.7 0.2 1.7p10.2e55.1 19.5 2.9 22.9 7.7eCZ4.4 24.8 1.8 2.5 27.0 5.2 78.3 -2.6 5.6 5.6 3.1 1.1 2.8 2.8e0.9 24.4p3.9 29.7 12.4eDK2.3 21.2 3.1p7.8 14.1 0.9 56.2 -0.1 -0.7 -1.7 4.2 -2.0 0.6 2.5e-0.7 17.7 4.7 127.7 16.4eDE2.5 20.5 3.1 8.0 42.0 2.3 43.4 -1.7 0.8 2.8 5.6 -0.7 1.1 1.8e7.9 19.5 6.0 53.3 14.1eEE5.7 24.8 1.3 3.6 20.1 6.4 95.2 -0.6 2.3 -0.6 4.9 -1.8 3.0 1.9e23.8 18.1 4.6 39.6 6.8eIE8.1 31.4 1.2 -8.2 -264.5 19.2 478.8 -1.2 -2.2 66.6 0.7 3.6 5.0 9.9e-38.1 32.8 2.1 46.8 6.6eEL1.5p12.9p1.1 -1.4 -126.6 1.7 17.7 -1.8p-1.9 -3.1 7.4p1.2p0.0p45.0e-13.0 -8.2e0.6p56.8 8.8eES2.9p18.7p1.2 2.9 -57.2 2.0 63.7 -1.8p-1.1 6.8 0.7p0.0p0.2p4.4e-11.4 15.1 4.8p61.2 13.5eFR2.3p22.5p2.2p-0.7 -31.9 1.5 44.3 -1.7p-0.7 -0.4 5.3p-1.7p1.3p3.1e-0.3 2.6 6.3p58.5 15.2eHR3.1 20.1 0.9 4.4 -19.4 0.9 49.9 -2.9 0.6 19.8 2.3 1.3 0.9d8.8e-14.1 1.7 na34.2 7.4eIT1.7 17.4 1.4 2.7 -6.1 0.6 26.2 -1.9 -0.8 -1.6 8.5 0.4 0.5 11.2e-0.5 -4.6 4.1 41.0 12.2eCY4.4 21.1 0.6 -4.7 -210.1 80.9 1945.1 -4.1 -3.9 15.4 2.1 3.1 -0.9 30.7e-9.1 1.0 5.1 105.1 12.1eLV3.8 20.7 0.5 1.7 -7.0 3.7 59.8 -3.0 0.7 5.2 3.8 0.8 3.8 5.6e7.8 14.0 2.1 22.2 8.9eLT4.2 20.0 0.9 1.7 -7.7 2.8 44.2 -3.0 1.4 0.9 5.2 8.0 5.0 3.2e8.9 19.0 2.7 22.4 10.7eLU1.8 18.8 1.3 4.5 -3875.6 126.4 8494.8 -2.8 0.0 18.0 -0.4 -4.9 -1.6 0.7e17.9 18.0 3.6 66.2 13.2eHU4.3 22.2 1.3 3.1 -8.8 -8.2 210.6 -3.7 0.4 7.8 1.9 1.3 2.4 8.4e5.2 43.9 2.7 18.8 9.7eMT6.7 20.5 0.6 12.1 243.0 31.2 1629.9 -6.4 1.2 20.8 2.1 -0.8 -1.3 3.1e5.5 17.5 4.7 50.4 13.5eNL2.9 20.1 2.0 10.8 -17.5 12.3 628.7 -0.7 -0.7 -1.3 1.8 0.9 0.7p2.1e-1.9 17.0 4.5 106.0 16.7eAT2.5 23.5 3.1 1.5 -4.4 3.2 66.6 -2.1 1.8 -0.1 2.3 -0.6 0.8 3.5e5.6 19.9 4.5 50.2 11.6ePL4.9 17.5 1.0 1.3 -20.7 2.2 49.6 -2.0 -3.2 24.4 6.1 3.9 3.6 6.6e3.4 7.4 2.2 34.9 8.8ePT3.5 16.8 1.3 2.1 -59.5 4.5 82.5 -2.2 0.8 11.1 6.9 2.8 0.2 13.3e-8.2 20.6 2.8 69.1 10.6eRO7.1 22.4 0.5 -2.0 -5.8 2.8 44.5 -1.3 -5.1 32.7 5.3 2.0 4.6 6.6e33.3 15.6 2.7 16.1 9.6eSI4.8 18.3 1.9 5.4 -10.6 2.5 38.0 -2.6 -1.6 14.8 3.5 5.2 1.8 9.2e2.2 12.5 2.1 27.2 8.0eSK3.0 21.3 0.9 -1.8 -15.2 4.4 71.4 -3.5 -1.7 2.3 -1.6 -2.1 0.8 3.7e3.2 19.0 3.2 41.0 9.3eFI3.1 23.2 2.7 -0.7 4.7 6.7 56.9 -1.6 -1.2 -7.5 3.6 3.2 2.0 1.2e4.4 2.0 6.9 65.0 18.9eSE2.4 25.2 3.4 2.7 -7.1 4.5 85.6 -0.9 -4.0 -7.2 0.7 -1.3 0.0 1.3e6.7 30.6 5.7 87.4 16.5eUK1.9 17.2 1.7p-3.6 -2.6 4.6 83.0 -0.6 -6.8 -3.9 5.5 0.5 0.9 1.5e5.0 18.5 3.7 86.1 15.0eFlags:d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
Table 2.2 (continued): Auxiliary indicators, 2017 

27 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.6 68.0b3.5b19.3b9.3b-2.7b20.3 -0.9 15.9 0.4 5.1 -0.8 13.5 -1.1 BG1.8p71.3 3.4 12.9 15.3 -4.9 38.9 -1.2b23.4 1.6 30.0 -3.1 11.1 -1.0 CZ1.6 75.9 1.0 7.9 6.3 -1.8 12.2 -2.6 9.1 -0.6 3.7 -3.0 5.5 -2.1 DK1.7 78.8b1.3b12.4 7.0b1.2b17.2 -0.7 12.4 0.3 3.1 -0.1 10.0 -2.2 DE1.4 78.2 1.6 6.8 6.3 -0.1 19.0 -1.6 16.1 -0.6 3.4 -1.6 8.7 -1.3 EE2.7 78.8 1.9 12.1 9.4 -2.3 23.4 -2.6b21.0 -0.8 4.1 -2.1 5.8 -1.8bIE3.0 72.7 3.0 14.4 10.9b-4.4b22.7 -5.0 15.6 -0.8 5.2 -3.2 16.2 -4.8 EL1.5p68.3 15.6 43.6 15.3 -3.8 34.8 -1.2 20.2 -1.9 21.1 -0.4 15.6 -1.6 ES2.7p73.9 7.7 38.6 13.3 -3.8b26.6 -2.6 21.6 -0.6 5.1 -2.0 12.8 -4.3 FR1.0p71.5 4.2 22.3 11.5 0.3b17.0 -1.5 13.2 -0.1 4.1 -0.7 8.1 -1.5 HR2.2d66.4 4.6 27.2 15.4 -3.9 26.4 -2.9 20.0 0.6 10.3 -3.6 12.2 -2.5 IT1.2 65.4 6.5 34.7 20.1 -2.0 28.9 0.6 20.3 0.9 10.1 -1.5 11.8 -0.3 CY5.3 73.9 4.5 24.7 16.1 -0.9 25.2 -2.2 15.7 1.3 11.5 -3.8 9.4 -0.3 LV0.0 77.0 3.3 17.0 10.3 -1.7 28.2 -4.5 22.1 0.9 11.3 -7.9 7.8 -1.8 LT-0.7 75.9 2.7 13.3 9.1 -0.8 29.6 2.3 22.9 3.8 12.4 -1.2 9.7 0.9 LU3.4 70.2 2.1 15.5 5.9 -0.4 21.5 2.5 18.7 2.3 1.2 -0.2 6.9 0.8 HU1.9 71.2 1.7 10.7 11.0 -2.6 25.6 -6.2 13.4 -1.6 14.5 -9.5 6.6 -6.2 MT8.1 72.2 1.6 10.6 8.6b-1.7b19.3 -4.6 16.7 0.9 3.3 -7.0 7.1 -2.8 NL2.2p79.7 1.9 8.9 4.0 -1.5 17.0 0.5 13.2 1.6 2.6 -0.6 9.5 -0.7 AT1.7 76.4 1.8 9.8 6.5 -1.2 18.1 -1.1 14.4 0.3 3.7 -0.3 8.3 -0.8 PL1.3 69.6 1.5 14.8 9.5 -2.5 19.5 -5.2 15.0 -2.0 5.9 -4.5 5.7 -1.6 PT3.3 74.7 4.5 23.8 9.3 -3.0 23.3 -4.2 18.3 -1.2 6.9 -3.7 8.0 -4.2 RO2.4 67.3 2.0 18.3 15.2 -1.8 35.7 -4.6 23.6 -1.5 19.7 -6.2 6.9 -0.3 SI3.0 74.2 3.1 11.2 6.5 -2.9 17.1 -3.3 13.3 -1.2 4.6 -2.0 6.2 -2.5 SK2.2 72.1 5.1 18.9 12.1 -0.7 16.3 -2.1 12.4 -0.2 7.0 -2.9 5.4 -1.7 FI1.0 76.7 2.1 20.1 9.4 -0.8 15.7 -1.6 11.5 -1.3 2.1 -0.7 10.7 0.7 SE2.5 82.5 1.2 17.8 6.2 -1.0 17.7 -0.5 15.8 0.2 1.1 0.1 8.8 -0.2 UK1.0 77.6 1.1 12.1 10.3 -1.6 22.0b-2.1b17.0b0.2b4.1b-3.3b10.1b-2.2bSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. p:Provisional. 1)EmploymentrateforHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.2)LabourFourceSurveyindicatorsBE:revisioninthesurveymethodology;DK:improvementinthedatacollectionandintroductionofCAWI(computer-assistedwebinterviewing)technique.3)Youngpeopleneitherinemploymentnorineducationandtraining:IE:introductionofthenewLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource.MT:changesintheweightingprocedure.4)IncomeandLivingConditionsindicatorsforUK:Cautiontobetakenintimecomparisons.SignificantchangeinmicrodatacollectionpracticesacrossmostSILCvariables,partialresponsesfromtheSLCareincluded,withitem-by-itemimputationusedtoadjustindividualnon-responseaswellaschangeincalibrationvariablesused.Thereported breaks reduce the information value of 3 year change in pp in the year of reporting and the two subsequent years.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2017Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total population 
 
 
 
 
 
 
 
Table 2.3: Auxiliary indicators, 2016 

28 

Year2016Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.5 23.2 2.6 0.7 52.2 12.2 221.8 -2.2 1.9 -7.0 2.3 4.3 0.3 3.2e1.9 3.8p5.7 59.0 14.2eBG3.8 18.5 0.8 5.4 29.0 2.7 89.6 -2.4 -4.8 7.2 3.1 6.4 3.3p12.8e54.3 11.6 2.7 23.2 7.7eCZ2.5 24.9 1.7 2.7 28.2 5.6 78.4 -2.1 -3.8 0.3 3.6 2.1 0.8 4.0e0.1 14.2p3.7 31.3 10.7eDK2.4 20.9 3.1 7.8 10.8 2.5 58.7 0.0 -0.4 -4.9 4.3 1.7 0.9 3.3e3.0 16.8 4.3 129.1 16.7eDE2.2 20.3 2.9 8.5 37.9 1.8 42.8 -1.5 1.0 -0.1 6.4 0.2 1.0 2.6e3.5 16.1 6.0 53.3 18.4eEE2.6 23.3 1.3 2.7 18.5 3.8 98.8 -1.0 0.2 -2.4 3.4 2.9 2.3 1.7e35.5 27.3 4.5 40.1 7.7eIE3.7 35.6 1.2 -5.8 -247.8 34.5 514.8 -1.1 -1.1 55.3 0.3 1.9 0.0 13.1e-33.1 39.6 1.8 52.1 7.4eEL-0.2p12.1p1.0 -1.1 -126.9 1.4 15.6 -1.6p-3.3 -11.7 6.1p-4.0p-0.7p46.3e-11.7 -14.2e0.6p60.0 10.1eES3.0 18.0 1.2 3.4 -61.5 3.6 63.7 -1.5 -2.3 0.8 0.4 3.2 0.9 5.7e-8.0 8.7 4.4 64.5 13.2eFR1.1 21.8 2.2p-0.4 -30.4 1.3 44.7 -1.4 0.0 -1.0 6.4 -0.4 0.5 3.6e0.1 -2.1 6.0 57.1 16.0eHR3.5 20.1 0.9 3.6 -27.7 0.8 51.2 -2.7 -1.1 7.2 1.4 4.9 3.2d10.7e-10.2 -3.6 na35.1 7.2eIT1.3 17.2 1.4b2.4 -11.6 1.4 26.3 -1.5 -0.9 -6.0 8.6 -0.3 -0.1 15.0e1.8 -8.1 4.1 41.3 14.2eCY6.7 17.8 0.5 -4.1 -228.3 40.9 2075.9 -3.3 -3.5 5.7 1.7 5.0 2.0 35.4e-9.2 -2.9 4.4 116.6 10.7eLV1.8 19.5 0.4 2.5 -10.2 1.2 58.3 -2.5 -0.3 7.9 0.4 1.8 2.1 6.3e31.8 11.1 2.1 23.7 9.9eLT2.6 19.9 0.8 0.3 -12.5 3.1 44.6 -2.6 -0.9 -3.4 4.0 2.7 0.3 4.0e7.3 16.3 3.0 22.8 11.6eLU4.6 18.1 1.3 4.7 -3681.2 192.6 9180.9 -2.4 -0.4 30.5 0.2 0.4 1.5 0.8e12.1 16.6 4.0 63.7 13.4eHU2.2 19.7 1.2 4.6 -12.1 55.7 259.3 -3.1 -5.3 -4.2 1.5 1.6 -1.5 11.9e6.2 33.6 2.4 20.3 9.9eMT5.7 23.6 0.6 4.1 208.2 27.6 1694.3 -8.2 1.8 20.0 0.9 2.3 1.3 4.1e6.4 14.4 3.5 52.1 15.8eNL2.2 20.0 2.0 7.9 -33.0 30.8 640.7 -0.6 -0.6 -5.0 2.0 -0.5 0.6 2.4e-0.2 9.7 4.1 108.9 17.7eAT2.1 23.1 3.1 2.6 -9.4 -7.5 65.0 -1.9 2.1 -4.9 3.1 0.9 0.8 5.1e6.3 17.8 4.3 51.1 12.5ePL3.1 18.0 1.0 0.5 -22.9 3.9 50.6 -1.4 -5.7 15.3 4.6 6.6 2.2 6.4e4.2 4.4 2.4 36.6 9.4ePT2.0 15.5 1.3 2.0 -64.8 3.5 80.5 -1.6 0.3 3.0 8.4 2.2 0.4 17.2e-10.2 15.1 2.6 72.1 12.9eRO4.8 22.9 0.5 0.4 -6.7 3.3 44.5 -0.9 -2.8 20.6 3.9 13.8 6.0 9.7e25.1 6.7 2.6 16.7 9.8eSI3.1 17.4 2.0 4.1 -15.5 3.2 37.1 -2.1 -1.8 1.5 2.9 4.3 1.3 12.3e3.4 -2.8 2.1 27.3 8.0eSK2.1 21.0 0.8 -1.0 -14.8 5.3 70.9 -2.7 -2.2 5.1 -2.3 2.8 -0.3 4.6e-0.9 14.0 3.1 38.3 9.2eFI2.6 22.7 2.7 -2.0 10.1 2.0 54.5 -1.4 0.3 -17.5 3.1 1.5 2.2 1.4e7.1 0.1 6.6 64.9 17.7eSE2.4 24.2 3.3p3.7 -12.1 2.6 83.7 -0.8 -7.9 -9.5 1.6 0.6 0.6 1.2e8.1 34.0 5.3 85.7 17.6eUK1.9 17.2 1.7e-5.3 1.0 12.2 77.5 -0.5 4.8 -1.0 6.7 0.5 0.4 1.9e5.6 22.5 3.5 86.3 15.1eFlags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.3 (continued): Auxiliary indicators, 2016 

29 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.3 67.6 4.0 20.1 9.9 -2.8 20.7 -0.1 15.5 0.4 5.5 0.4 14.6 0.6 BG0.5p68.7 4.5 17.2 18.2 -3.4 40.4b-7.6b22.9b1.9b31.9b-11.1b11.9b-1.1bCZ1.6 75.0 1.7 10.5 7.0 -2.1b13.3 -1.3 9.7 1.1 4.8 -1.8 6.7 -0.2 DK1.5 80.0b1.4b12.2 5.8b-0.2b16.8 -1.5 11.9 0.0 2.6 -1.0 10.7 -1.2 DE1.2 77.9 1.7 7.1 6.7 0.4 19.7 -0.6 16.5 0.4 3.7 -1.7 9.6 -0.3 EE0.3 77.5 2.1 13.4 9.1 -2.2 24.4 0.9 21.7 3.1 4.7 -2.9 5.8 -2.6 IE3.7 72.7 4.2 16.8 12.6 -3.8 24.4 -5.5 16.8 1.1 6.7 -3.2 17.8 -6.1 EL0.5p68.2 17.0 47.3 15.8 -4.6 35.6 -0.1 21.2 -1.9 22.4 2.1 17.2 -1.0 ES2.1 74.2 9.5 44.4 14.6 -4.0 27.9 0.6 22.3 1.9 5.8 -0.4 14.9 -0.8 FR0.6 71.4 4.6 24.6 11.9 0.7b18.2 0.1 13.6 -0.1 4.4 -0.5 8.4 0.3 HR0.3d65.6 6.6 31.8 16.9 -2.7 27.9 -2.0 19.5 0.0 12.5 -2.2 13.0 -1.8 IT1.4 64.9 6.7 37.8 19.9 -2.3 30.0 1.5 20.6 1.3 12.1 -0.2 12.8 1.5 CY4.7 73.4 5.8 29.1 16.0 -2.7 27.7 -0.1 16.1 0.8 13.6 -2.5 10.6 2.7 LV-0.3 76.3 4.0 17.3 11.2 -1.8 28.5 -6.6 21.8 2.4 12.8 -11.2 7.2 -2.8 LT2.3 75.5 3.0 14.5 9.4 -1.7 30.1 -0.7 21.9 1.3 13.5 -2.5 10.2 -0.8 LU3.0 70.0 2.2 19.1 5.4 0.4 19.8b0.8b16.5b0.6b1.6b-0.2b6.6b0.0bHU3.7 70.1 2.4 12.9 11.0 -4.5 26.3 -8.5 14.5 -0.5 16.2 -11.6 8.2 -5.4 MT4.3 70.6 1.9 10.7 8.8 -1.1 20.3 -4.3 16.5 0.7 4.4 -5.8 7.3 -1.8 NL1.5 79.7 2.5 10.8 4.6 -1.0b16.7b0.8b12.7b2.3b2.6b0.1b9.7b0.4bAT1.3 76.2 1.9 11.2 7.7 0.4 18.0 -0.8 14.1 -0.3 3.0 -1.2 8.1 0.3 PL0.8 68.8 2.2 17.7 10.5 -1.7b21.9 -3.9 17.3 0.0 6.7 -5.2 6.4 -0.8 PT1.6 73.7 6.2 28.2 10.6 -3.5 25.1 -2.4 19.0 0.3 8.4 -2.5 9.1 -3.1 RO-1.1 65.6 3.0 20.6 17.4 0.4 38.8 -3.1 25.3 2.3 23.8 -6.0 8.2 0.6 SI1.8 71.6 4.3 15.2 8.0 -1.2 18.4 -2.0 13.9 -0.6 5.4 -1.3 7.4 -0.6 SK2.4 71.9 5.8 22.2 12.3 -1.4 18.1 -1.7 12.7 -0.1 8.2 -2.0 6.5 -1.1 FI0.5 75.9 2.3 20.1 9.9 0.6 16.6 0.6 11.6 -0.2 2.2 -0.3 11.4 2.4 SE1.9 82.1 1.3 18.9 6.5 -1.0 18.3 0.0 16.2 0.2 0.8 -1.1 8.5 -0.9 UK1.5 77.3 1.3 13.0 10.9 -2.3 22.2 -2.6 15.9 0.0 5.2 -3.1 11.3 -1.9 People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. p:Provisional. 1)LabourForceSurveyindicators:DK:datacollectionimprovement,introductionofCAWI(computer-assistedwebinterviewing)technique.2)Youngpeopleneitherinemploymentnorineducationandtraining:FR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).3)EmploymentrateforHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)IncomeandLivingConditionsindicators:Cautionshouldbetakenintimecomparisons.ForBG,theincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesizefrom5200(interviewedhouseholds)to7800,theaveragesamplesizeofnewrotationalgroupsisunchanged(around2500households).In2016thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime.ForLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister.ForNL,anewweightingschemehasbeenappliedfromEU-SILC2016onwards(AROP/AROPE).In2016imputedrentandtheinterestpaidonmortgageareincludedintargetvariableHY140G.Fromthen,variableHY140Greferstotheactualtaxpaid,whichresultedinahigherdisposableincomeforhomeowners.The reported breaks reduce the information value of 3 year change in pp in the year of reporting and the two subsequent years.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2016Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
Table 2.4: Auxiliary indicators, 2015 

30 

Year2015Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE2.0 23.0 2.5 1.4 51.7 -4.3 225.3 -2.7 0.1 -12.6 0.3 0.8 1.1 3.8e4.0 2.3p5.7 58.7 14.7eBG4.0 20.9 1.0 3.2 20.6 4.3 92.8 -3.8 -4.1 14.4 3.6 3.5 3.6p14.5e55.0 2.0b1.4 23.8 7.7eCZ5.3 26.5 1.9 2.5 20.7 0.9 75.8 -2.4 -8.2 -1.1 0.9 3.1 3.8 na-1.8 6.5p3.6 30.4 10.1eDK2.3 19.9 3.1 7.9 9.9 0.6 49.9 0.0 -1.5 -7.5 1.6 0.7 1.0 3.9e4.5 15.3 4.0 128.9 16.7eDE1.7 20.0 2.9 8.6 34.5 1.9 42.2 -2.0 1.0 -2.1 1.9 2.6 0.8 3.0e-1.1 11.4 5.8 53.5 18.6eEE1.8 24.3 1.5 3.8 16.6 -3.1 97.3 -1.5 1.5 8.5 2.9 -4.4 -1.0 2.2e42.3 34.5 4.0 39.7 7.7eIE25.2 24.1 1.2 3.9 -243.3 82.0 497.6 -1.5 -1.5 39.4 2.5 36.4 20.8 14.9e-31.0 31.5 1.4 56.5 7.8eEL-0.4p11.6p1.0 0.3 -127.8 0.6 14.7 -2.1p-5.3 -13.0 6.0p0.2p-1.2p46.8e-12.1 -21.6e0.7p61.9 11.0eES3.8 18.0 1.2 2.7 -64.8 1.9 61.2 -2.0 -1.4 -2.2 -3.6 1.4 1.0 6.3e-4.2 -5.6 4.0 68.0 13.7eFR1.1 21.5 2.3p-0.4 -29.7 1.8 43.9 -1.8 -0.6 -2.6 2.8 1.7 0.9 4.0e1.5 -4.9 5.9 56.1 17.3eHR2.4 19.5 0.8 3.9 -38.2 0.1 51.0 -3.4 -1.2 -4.7 0.5 7.4 1.2d13.0e-7.3 -8.2 na38.4 8.0eIT0.8 16.9 1.3 1.8 -17.5 0.7 25.5 -2.0 -0.7 -8.7 2.5 1.4 0.1 16.5e3.7 -14.3 4.1 41.9 13.1eCY3.4 12.6 0.5 -0.6 -259.1 146.5 2138.7 -4.0 -2.6 -3.7 0.4 7.0 1.8 36.3e-6.7 -7.1b3.6 127.3 10.7eLV3.3 22.0 0.6 1.9 -13.7 3.0 59.5 -3.5 -2.2 14.8 0.4 0.0 1.8 6.5e44.9 9.5 2.4 24.6 9.5eLT2.0 19.6 1.0 0.6 -13.5 2.5 42.6 -3.6 -1.6 7.7 1.4 -0.5 0.6 5.6e12.1 11.7 2.8 22.2 9.0eLU4.3 18.2 1.3 4.6 -3772.6 1295.6 9415.9 -3.1 0.1 31.3 0.2 1.8 1.7 1.1e13.5 15.5 4.0 61.9 13.4eHU3.8 22.3 1.4 6.9 -18.4 -4.3 221.0 -4.1 -7.3 -8.3 -0.5 4.5 1.6 15.2e3.3 14.8 2.2 21.3 11.2eMT10.8 24.8 0.7 5.6 198.0 34.0 1720.9 -8.8 0.8 10.3 0.7 12.6 6.5 5.1e9.2 8.1 2.8 52.8 14.1eNL2.0 22.1 2.0 5.8 -54.2 41.9 614.0 -1.1 0.8 -5.7 -0.1 4.5 1.0 2.7e-0.1 -1.8 3.5 110.6 18.0eAT1.0 22.7 3.1 1.2 -11.3 -2.1 75.4 -2.3 2.0 -8.1 0.4 0.1 0.4 6.5e6.6 14.2 4.3 50.8 13.5ePL3.8 20.1 1.0 1.8 -26.0 3.2 48.1 -1.6 -2.1 10.4 2.5 4.8 2.3 6.6e1.3 -2.0 2.5 36.0 9.2ePT1.8 15.5 1.2 1.3 -72.3 1.3 81.0 -2.3 -1.1 2.0 4.7 3.4 0.4 17.5e-11.6 5.4 2.4 76.7 12.4eRO3.9 24.8 0.5 1.2 -13.0 2.4 42.6 -0.9 2.2 21.9 6.0 1.7 5.2 13.4e21.1 0.5 2.4 17.4 9.8eSI2.2 18.7 2.2 4.9 -19.7 4.0 34.4 -3.1 -0.9 -3.5 0.6 1.8 0.9 17.9e3.2 -10.8 2.1 27.6 8.6eSK4.8 23.7 1.2 1.2 -14.0 1.7 62.8 -3.5 -1.5 5.2 -3.2 3.7 2.8 4.4e-0.1 7.8 2.5 34.7 9.0eFI0.6 21.2 2.9 -0.9 15.2 7.4 57.3 -1.8 0.9 -22.2 1.5 -2.3 0.6 1.5e9.8 0.8 6.0 63.7 19.1eSE4.4 23.8 3.2 3.9 -13.8 2.1 83.7 -0.8 -7.9 -8.3 0.6 3.4 2.9 1.3e6.4 30.2 4.7 82.7 18.8eUK2.4 16.9 1.7 -5.0 -13.0 1.6 70.6 -0.6 13.8 3.9 4.1 0.9 0.6 na7.2 17.4 3.5 85.4 15.6eFlags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL; b = break in time series due to full implementation of harmonised EU methodology for BG and CY. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.4 (continued): Auxiliary indicators, 2015 

31 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.9 67.6 4.4 22.1 12.2 -0.1 21.1 -0.5 14.9 -0.4 5.8 -0.5 14.9 1.0 BG0.4p69.3 5.6 21.6 19.3 -2.2 41.3 -8.0 22.0 0.8 34.2 -9.9 11.6 -0.9 CZ1.4 74.0 2.4 12.6 7.5 -1.4 14.0 -1.4 9.7 0.1 5.6 -1.0 6.8 0.0 DK1.4 78.5 1.7 12.1 6.2 -0.4 17.7 0.2 12.2 0.2 3.7 1.0 11.6 1.4 DE0.9 77.6 2.0 7.2 6.2 -0.9 20.0 0.4 16.7 0.6 4.4 -0.5 9.8 -0.1 EE2.9 76.7 2.4 13.1 10.8 -1.4 24.2 0.8 21.6 4.1 4.5 -4.9 6.6 -2.5 IE3.6 72.1 5.3 20.2 14.3 -4.9 26.2 -3.9 16.2 -0.1 7.5 -2.4 18.7 -4.7 EL0.7p67.8 18.2 49.8 17.2 -3.0 35.7 1.1 21.4 -1.7 22.2 2.7 16.8 2.6 ES2.8 74.3 11.4 48.3 15.6 -3.0 28.6 1.4 22.1 1.3 6.4 0.6 15.4 1.1 FR0.2 71.3 4.6 24.7 12.0 -0.5 17.7 -1.4 13.6 -0.5 4.5 -0.8 8.6 0.2 HR1.2d66.9 10.2 42.3 18.1 1.5 29.1 -3.5 20.0 -0.4 13.7 -2.2 14.4 -2.4 IT0.7 64.0 6.9 40.3 21.4 0.4 28.7 -1.2 19.9 0.4 11.5 -3.0 11.7 1.1 CY1.6 73.9 6.8 32.8 15.3 -0.7 28.9 1.8 16.2 1.5 15.4 0.4 10.9 4.4 LV1.4 75.7 4.5 16.3 10.5 -4.4 30.9 -5.3 22.5 3.3 16.4 -9.2 7.8 -3.9 LT1.4 74.1 3.9 16.3 9.2 -2.0 29.3 -3.2 22.2 3.6 13.9 -5.9 9.2 -2.2 LU2.6 70.9b1.9b16.6 6.2b0.3b18.5 0.1 15.3 0.2 2.0 0.7 5.7 -0.4 HU2.2 68.6 3.1 17.3 11.6b-3.2b28.2 -5.3 14.9 0.6 19.4 -6.9 9.4 -4.1 MT4.1 68.8 2.4 11.6 10.5 -0.3 23.0 -0.1 16.6 1.5 8.5 -0.7 9.2 0.2 NL1.0 79.6 3.0 11.3 4.7 -0.2 16.4 1.4 11.6 1.5 2.6 0.3 10.2 1.3 AT0.6 75.5 1.7 10.6 7.5 0.7 18.3 -0.2 13.9 -0.5 3.6 -0.4 8.2 0.5 PL1.5 68.1 3.0 20.8 11.0 -0.8 23.4 -3.3 17.6 0.5 8.1 -5.4 6.9 0.0 PT1.4 73.4 7.2 32.0 11.3 -2.6 26.6 1.3 19.5 1.6 9.6 1.0 10.9 0.8 RO-1.3 66.1 3.0 21.7 18.1 1.3 37.4 -5.8 25.4 2.5 22.7 -8.4 7.9 0.0 SI1.3 71.8 4.7 16.3 9.5 0.2 19.2 -0.4 14.3 0.8 5.8 -0.8 7.4 -0.1 SK2.0 70.9 7.6 26.5 13.7 -0.1 18.4 -2.1 12.3 -0.9 9.0 -1.5 7.1 -0.1 FI-0.1 75.8 2.3 22.4 10.6 2.0 16.8 -0.4 12.4 -0.8 2.2 -0.7 10.8 1.5 SE1.5 81.7 1.5 20.4 6.7 -1.1 18.6 0.9 16.3 1.1 1.1 -0.7 8.7 0.6 UK1.7 76.9 1.6 14.6 11.1 -2.8 23.5 -0.6b16.6 0.6 6.1 -1.7 11.9 -1.1bPeople living in households with very low work intensity -% of total population aged 0-59Year2015Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationFlags:b:Break in series. d:Definition differs. p:Provisional. 1) Labour Force Survey indicators for LU: change in the sampling strategy and data collection tehnique. 2) Employment rate for HR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.5: Auxiliary indicators, 2014 

32 

Year2014Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.6 22.8 2.4 0.6 51.8 -2.7 226.9 -3.8 -0.1 -7.5 -2.5 1.5 1.2 4.3e5.4 2.9 5.9 57.9 15.1eBG1.9 21.1 0.8 3.5 10.8 1.9 93.1 -5.6 -3.0 12.7 3.0 -0.6 1.5p16.0e56.2 -2.7 1.6 25.2 7.9eCZ2.7 25.1 2.0 0.9 19.1 3.9 77.3 -4.0 -10.1 0.1 -1.4 5.0 2.2 na-1.7 0.9 3.4 30.5 10.0eDK1.6 19.2 2.9 8.7 11.4 2.0 49.8 0.0 -1.4 -10.2 3.7 -0.6 0.7 5.1e5.5 4.9 3.9 131.5 18.4eDE2.2 20.0 2.9 7.3 31.7 0.5 41.3 -2.8 0.0 -3.4 -2.6 1.1 1.3 3.9e-5.7 10.0 5.9 54.2 19.2eEE3.0 25.6 1.4 1.8 12.7 6.6 103.1 -2.1 3.1 28.7 0.4 -1.1 2.2 3.2e39.4 35.0 3.8 38.9 6.6eIE8.6 20.6 1.5e-2.4 -352.1 38.4 388.4 -2.7 -1.8 -8.9 -5.3 10.9 5.7 21.6e-15.3 2.1 1.8 81.0 9.1eEL0.7p11.5p0.8 0.7 -128.6 1.1 11.8 -3.4p-5.6 -14.0 1.5p4.0p-0.2p39.7e-4.0 -27.1e1.0p63.4 12.8eES1.4 17.8 1.2 2.1 -70.1 2.3 60.0 -2.9 -0.6 -5.5 -6.7 0.8 0.3 8.1e-2.4 -22.3 4.2 73.4 14.0eFR1.0 21.8 2.2 -1.0 -31.0 0.2 42.1 -2.5 -0.7 -8.8 -1.7 -0.4 0.4 4.2e2.5 -4.0 6.0 55.6 18.9eHR-0.1 19.3 0.8 0.7 -45.1 5.3 56.9 -4.0 -1.4 -13.9 0.7 3.7 -2.7d13.6e-4.4 -6.9 na40.0 7.2eIT0.0 16.7 1.3e2.1 -21.2 0.8 25.0 -2.6 0.4 -9.8 -3.8 -1.1 -0.1 16.5e4.1 -13.1 4.3 42.7 14.0eCY-1.9 12.9 0.5 -3.5 -197.8 223.3 1943.9 -5.9 -0.1 -14.7 -0.9 2.5 0.1 38.6e-1.8 -8.7 3.9 131.6 10.3eLV1.9 22.6 0.7 0.9 -19.4 3.3 56.5 -4.7 -1.3 19.5 0.0 2.8 3.3 9.7e56.5 16.6 2.5 26.4 10.2eLT3.5 18.9 1.0 6.1 -16.9 0.8 41.2 -4.7 -0.1 27.4 -0.5 -5.5 1.4 6.8e12.0 7.5 2.5 21.5 9.7eLU4.3 20.0 1.3 3.9 -3307.2 276.6 7976.5 -4.4 0.8 24.2 2.0 12.7 1.7 1.4e16.1 14.2 3.8 60.8 13.4eHU4.2 22.1 1.4 4.9 -29.6 9.5 217.2 -6.1 -7.0 -11.2 -1.2 5.5 -0.4 19.4e9.0 -2.2 1.9 25.5 10.9eMT8.7 17.3 0.7 7.5 211.5 2.8 1840.7 -14.9 0.7 -6.6 1.9 0.4 3.2 6.0e8.0 5.2 2.4 56.8 11.9eNL1.4 17.6 2.0 8.4 -45.8 13.0 558.1 -1.6 1.3 -5.4 -3.0 0.8 1.5 3.4e0.3 -11.6 3.1 112.8 18.5eAT0.7 22.7 3.1e2.4 -11.3 0.4 77.8 -3.0 1.6 -10.1 -2.7 -0.8 -0.3 7.5e5.8 16.8 4.3 51.0 14.2ePL3.3 19.7 0.9 0.4 -26.2 3.6 51.5 -2.6 -1.5 11.8 -1.4 3.0 1.6 7.2e2.2 -6.8 3.0 35.6 9.3ePT0.8 15.0 1.3 1.4 -77.7 5.7 81.5 -3.6 -1.2 -1.1 0.1 0.6 -0.6 16.6e-9.8 -4.9 2.5 81.7 13.7eRO3.4 24.3 0.4 2.0 -16.0 1.9 41.9 -1.4 -1.3 28.2 4.5 4.3 2.6 20.7e50.5 -7.3 2.4 18.0 10.5eSI2.8 19.1 2.4 5.3 -29.1 2.0 31.5 -4.1 0.4 -6.8 -4.6 2.3 2.3 22.8e4.0 -17.6 2.2 28.3 9.3eSK2.8 20.4 0.9 2.1 -13.0 -0.4 62.0 -4.2 0.5 8.8 -3.7 0.0 1.3 5.2e2.3 -0.4 2.7 32.5 8.4eFI-0.4 21.5 3.2 -1.2 0.1 6.4 52.0 -2.4 2.0 -22.4 -3.2 -5.6 0.1 1.6e10.6 3.2 6.0 62.9 24.3eSE2.7 23.5 3.1e4.4 -21.4 -1.7 83.7 -1.3 -3.8 -3.5 -0.5 0.6 1.3 1.3e6.3 16.5 4.2 82.4 20.6eUK2.6 16.4 1.7e-4.8 -15.8 2.0 71.1 -0.8 10.3 -3.1 3.9 -2.7 0.2 3.3e6.3 11.2 3.4 84.8 17.9eFlags:d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.5 (continued): Auxiliary indicators, 2014 

33 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.4 67.7 4.3 23.2 12.0 0.2b21.2 0.2 15.5 0.2 5.9 0.2 14.6 0.8 BG0.4p69.0 6.9 23.8 20.2 -1.6 40.1b-9.0b21.8 -0.4 33.1 -10.5 12.1 1.1 CZ0.6 73.5 2.7 15.9 8.1 -0.2b14.8 -0.5 9.7 -0.1 6.7 0.6 7.6 1.0 DK0.9 78.1 1.7 14.2 5.8 -0.5 17.9 0.3b12.1 0.0 3.2 0.9 12.2 1.7 DE0.9 77.7 2.2 7.7 6.4 -1.1b20.6 0.7 16.7 0.9 5.0 -0.3 10.0 -1.2 EE0.8 75.2 3.3 15.0 11.7 0.1 26.0b2.9b21.8 4.3 6.2 -2.5 7.6b-2.4bIE2.7 71.8 6.6 23.4 15.3 -3.8 27.7 -1.7 16.4 1.2 8.4 0.6 21.0 -3.2 EL0.9p67.4 19.5 52.4 19.1 1.7 36.0 5.0 22.1 0.7 21.5 6.3 17.2 5.2 ES1.0 74.2 12.9 53.2 17.1b-1.1b29.2 2.5 22.2 1.6 7.1 2.6 17.1 3.7 FR0.5 71.0 4.5 24.2 11.2b-1.1b18.5 -0.8 13.3 -0.7 4.8 -0.4 9.6 0.2 HR2.7d66.1 10.1 44.9 19.3 3.1 29.3 -3.3 19.4 -1.5 13.9 -1.3 14.7 -1.2 IT0.1 63.9 7.7 42.7 22.1 2.4 28.3 0.2 19.4 -0.4 11.6 0.5 12.1 1.6 CY-2.0 74.3 7.7 36.0 17.0 2.4 27.4 2.8 14.4 -0.4 15.3 3.6 9.7 4.8 LV-1.3 74.6 4.6 19.6 12.0 -4.0 32.7 -7.4 21.2 2.2 19.2 -11.8 9.6 -3.0 LT2.0 73.7 4.8 19.3 9.9 -1.9 27.3 -5.8 19.1 -0.1 13.6 -5.4 8.8 -3.9 LU2.6 70.8 1.6 22.3 6.3 1.6 19.0 2.2 16.4 2.8 1.4 0.2 6.1 0.3 HU4.6 67.0 3.7 20.4 13.6 0.4 31.8 0.3 15.0 0.9 24.0 0.6 12.8 0.0 MT5.4 67.8 2.7 11.7 10.3 0.1 23.9 1.8 15.8 0.2 10.3 3.7 9.9 1.0 NL-0.1 79.0 2.9 12.7 5.5 1.2 16.5 0.8 11.6 0.6 3.2 0.7 10.2 1.3 AT1.0 75.4 1.5 10.3 7.7 0.4 19.2 0.0 14.1 -0.4 4.0 0.0 9.1 0.5 PL1.7 67.9 3.8 23.9 12.0 0.5 24.7 -2.5 17.0 -0.7 10.4 -2.6 7.3 0.4 PT1.4 73.2 8.4 34.7 12.3 -0.3b27.5 3.1 19.5 1.5 10.6 2.3 12.2 3.9 RO0.8 65.7 2.8 24.0 17.0 -0.5 40.3 -0.6 25.1 2.8 25.9 -3.6 7.2 -0.1 SI0.4 70.9 5.3 20.2 9.4 2.3 20.4 1.1 14.5 0.9 6.6 0.5 8.7 1.1 SK1.4 70.3 9.3 29.7 12.8 -1.0b18.4 -2.2 12.6 -0.4 9.9 -0.7 7.1 -0.6 FI-0.4 75.4 1.9 20.5 10.2 1.8 17.3 -0.6 12.8 -0.9 2.8 -0.4 10.0 0.0 SE1.4 81.5 1.4 22.9 7.2 -0.3 18.2 -0.3 15.6 0.2 1.0 -0.7 9.0 -0.4 UK2.4 76.7 2.2 17.0 11.9 -2.3 24.1 1.4 16.8 0.6 7.4 2.3 12.3 0.8 Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. p:Provisional. 1)Youngpeopleneitherinemploymentnorineducationandtraining:forES,changeintheclassificationofnon-formaleducationactivities;forFR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).2)Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2014Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%)  
 
 
 
 
 
 
 
Table 2.6: Auxiliary indicators, 2013 

34 

Year2013Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE0.5 22.2 2.3 0.9 58.5 -5.6 231.9 -4.5 0.6 -6.7 0.2 -3.3 0.8 na4.5 7.6 5.7 55.8 15.7eBG0.3 21.3 0.6 2.4 7.4 3.6 89.5 -6.2 -0.4 7.0 4.2 5.9 0.8pna53.1 -9.3 1.7 25.6 7.8eCZ-0.5 25.1 1.9 1.5 14.9 3.5 77.4 -4.8 -2.4 -3.3 -0.9 -3.5 -0.8 na1.0 -1.4 3.2 31.7 10.8eDK0.9 19.1 3.0 7.7 -3.6 0.2 41.8 0.3 -1.3 -11.9 2.4 -2.1 0.9 na4.9 -0.6 3.7 133.3 18.4eDE0.4 19.9 2.8 6.5 29.5 1.8 41.3 -3.4 -0.7 -6.7 0.4 -2.7 -0.4 na-8.4 10.4 5.9 55.7 20.3eEE1.3 27.7 1.7 2.9 7.4 4.4 98.3 -2.2 5.3 17.8 -0.7 -0.9 0.1 na41.0 28.8 3.4 40.1 6.8eIE1.4 18.6 1.6e1.0 -310.2 29.6 347.8 -3.2 -3.1 -4.2 -4.7 -0.8 -1.6 na-8.7 -27.3 1.6 93.2 15.0eEL-3.2p12.2p0.8 0.3 -129.8 1.2 12.0 -3.7p-3.5 -21.4 -0.8p-2.2p-0.6pna-0.7 -25.5e2.2p65.5 14.0eES-1.4 17.4 1.3 2.6 -69.7 3.5 57.7 -3.4 0.4 -3.8 -1.6 0.7 1.0 na0.7 -28.5 3.9 77.8 14.9eFR0.6 22.0 2.2 -0.5 -26.9 1.1 41.3 -3.1 -1.4 -8.1 -0.4 -1.6 0.4 na2.4 3.2 6.1 55.6 18.1eHR-0.5 19.7 0.8 -0.9 -49.9 1.7 51.3 -5.1 -2.9 -17.8 1.4 -1.2 2.1dna-0.7 -5.3 na40.2 7.5eIT-1.8 17.2 1.3 1.1 -23.9 0.9 23.7 -3.3 1.0 -14.7 -0.8 -3.3 -0.1 na6.7 -7.6 4.7 43.5 15.0eCY-6.6 14.1 0.5 -1.0 -141.5 108.8 1650.4 -6.4 1.0 -5.7 -0.6 -2.5 -1.0 na2.9 -8.5 4.1 129.6 16.2eLV2.3 23.1 0.6 -0.2 -21.3 3.3 53.9 -5.6 0.2 13.5 1.0 -2.6 0.0 na58.7 21.5 2.2 29.2 9.9eLT3.6 18.5 1.0 4.8 -18.7 1.6 42.5 -6.1 1.4 19.9 -5.1 3.6 2.2 na13.1 7.7 2.2 22.4 9.6eLU3.7 19.5 1.3 4.4 -2691.2 1024.1 6465.3 -5.4 1.7 16.0 2.8 1.6 1.8 na17.2 13.4 3.6 60.2 13.9eHU2.0 20.8 1.4 7.2 -35.2 -2.7 211.5 -6.3 -3.0 -17.3 -1.1 0.4 0.7 na13.2 -9.4 1.8 28.0 10.7eMT4.6 17.4 0.8 1.9 225.0 5.6 1972.3 -9.0 0.1 6.5 0.9 -2.8 0.8 na12.8 1.2 2.6 59.8 6.6eNL-0.1 18.4 1.9 9.9 -66.9 37.5 534.5 -1.4 1.3 -5.0 -2.0 -1.2 1.1 na0.4 -14.0 3.0 114.6 20.8eAT0.0 23.0 3.0 1.8 -11.7 0.1 75.2 -3.5 1.6 -12.6 -1.9 -3.1 -0.3 na3.7 19.9 4.3 51.2 13.4ePL1.4 18.8 0.9 1.0 -27.1 0.2 50.1 -2.7 -3.3 6.9 -0.1 2.4 1.5 na0.5 -7.6 3.0 35.1 9.0ePT-0.9 14.8 1.3 3.2 -78.1 4.7 77.4 -3.7 0.1 -1.5 3.9 3.5 2.0 na-8.9 -13.3 2.5 86.1 14.8eRO3.5 24.8 0.4 1.0 -20.4 2.0 43.1 -1.9 0.7 21.9 3.4 16.5 4.4 na46.2 -17.0 2.4 19.2 9.7eSI-1.0 19.6 2.6 3.7 -32.8 0.2 28.9 -5.5 0.0 -12.3 -2.3 -0.6 0.1 na9.3 -9.4 2.4 29.6 11.3eSK0.7 20.4 0.8 3.3 -10.5 1.0 64.6 -5.9 2.5 2.8 -4.8 2.3 1.5 na4.8 -3.3 3.2 29.7 8.2eFI-0.9 22.0 3.3 -1.7 -4.6 -1.9 46.6 -2.6 1.9 -27.6 -2.7 -3.1 -0.1 na9.7 6.9 6.4 61.8 21.7eSE1.1 22.7 3.3e4.9 -24.4 0.2 89.8 -1.5 5.9 -11.2 0.2 -4.8 0.1 na4.5 9.2 3.6 81.5 21.3eUK2.1 15.7 1.6 -4.8 -12.4 2.0 71.0 -1.1 4.2 -5.3 3.7 -2.5 1.0 na9.6 1.5 3.2 86.5 17.9eFlags:d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.6 (continued): Auxiliary indicators, 2013 

35 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE-0.3 67.5 3.9 23.7 12.7 1.8 20.8 0.0 15.1 0.5 5.1 -0.8 14.0 1.3 BG-0.4p68.4 7.4 28.4 21.6 0.6b48.0 -1.2 21.0 0.3 43.0 -2.7 13.0 5.0 CZ0.3 72.9 3.0 18.9 9.1b0.3b14.6 0.2 8.6 -0.4 6.6 0.4 6.9 0.5 DK0.0 78.1 1.8 14.8 6.0 0.0 18.3 0.0 11.9 -1.4 3.6 0.9 11.9 1.3 DE0.8 77.6 2.3 7.8 6.3 -2.0b20.3 0.6 16.1 0.5 5.4 0.9 9.9 -1.3 EE1.2 75.1 3.8 18.7 11.3 -2.7 23.5 1.8 18.6 2.8 7.6 -1.4 8.4 -0.6 IE2.9 71.8 8.0 26.7 16.4 -3.0 29.9 2.6 15.7 0.5 9.9 4.2 23.9 1.0 EL-2.6p67.5 18.5 58.3 20.4 5.6 35.7 8.0 23.1 3.0 20.3 8.7 18.2 10.6 ES-2.4 74.3 13.0 55.5 18.6 0.8 27.3 1.2 20.4 -0.3 6.2 1.3 15.7 4.9 FR0.2 70.7e4.4e24.9 11.2b-1.5b18.1 -1.1 13.7 0.4 4.9 -0.9 8.1 -1.8 HR-2.6d63.7 11.0 49.9 19.6 3.9 29.9 -1.2 19.5 -1.1 14.7 0.4 14.8 0.9 IT-1.8 63.4 6.9 40.0 22.2 3.2 28.5 3.5 19.3 0.6 12.3 4.9 11.3 0.7 CY-5.6 73.6 6.1 38.9 18.7 7.0 27.8 3.2 15.3 -0.3 16.1 4.9 7.9 3.0 LV2.3 74.0 5.7 23.2 13.0 -4.8 35.1 -3.1 19.4 -1.5 24.0 -3.6 10.0 -2.6 LT1.4 72.4 5.1 21.9 11.1 -2.1 30.8 -3.2 20.6 0.1 16.0 -3.9 11.0 1.5 LU1.8 69.9 1.8 16.9 5.0 -0.1 19.0 1.9 15.9 1.4 1.8 1.3 6.6 1.1 HU1.3 64.7 4.9 26.6 15.5 2.9 34.8 4.9 15.0 2.7 27.8 6.2 13.6 1.7 MT3.8 66.3 2.8 12.7 9.9 0.4 24.6 3.4 15.8 0.3 10.2 3.7 9.1 -0.1 NL-1.2 79.4 2.5 13.2 5.6b0.8b15.9 0.8 10.4 0.1 2.5 0.3 9.3 0.9 AT0.3 75.5 1.3 9.7 7.3 -0.1 18.8 -0.1 14.4 -0.3 4.2 -0.1 7.8 0.0 PL-0.1 67.0 4.4 27.3 12.2b1.4b25.8 -2.0 17.3 -0.3 11.9 -2.3 7.2 -0.1 PT-2.9 73.0 9.3 38.1 14.1 2.7 27.5 2.2 18.7 0.8 10.9 1.9 12.2 3.6 RO-0.9 64.9 3.2 23.7 17.0 0.4b41.9 0.4 23.0 1.4 29.8 -0.7 7.6 -0.1 SI-1.1 70.5 5.2 21.6 9.2 2.1 20.4 2.1 14.5 1.8 6.7 0.8 8.0 1.0 SK-0.8 69.9 10.0 33.7 13.7 -0.4 19.8 -0.8 12.8 0.8 10.2 -1.2 7.6 -0.3 FI-0.8 75.2 1.7 19.9 9.3 0.3 16.0 -0.9 11.8 -1.3 2.5 -0.3 9.0 -0.3 SE1.0 81.1 1.4 23.6 7.5 -0.2 18.3 0.6 16.0 1.2 1.9 0.0 9.4 0.9 UK1.2 76.4 2.7 20.7 13.2 -0.4 24.8 1.6 15.9 -1.2 8.3 3.5 13.2 0.0 Severely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2013Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total population 
 
 
 
 
 
 
 
 
Table 2.7: Auxiliary indicators, 2012 

36 

Year2012Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE0.7 23.0 2.3 0.6 58.6 2.4 244.0 -5.0 1.9 -6.9 -2.8 -3.6 0.3 na2.5 9.7 5.9 54.9 17.4eBG0.4 21.2 0.6 0.4 4.2 3.3 90.0 -6.9 1.9 9.1 5.9 -1.1 2.9pna42.1 -16.7e1.7 25.5 7.6eCZ-0.8 25.9 1.8 -0.3 9.3 4.5 74.7 -4.7 5.6 5.2 -3.3 1.2 -1.2 na3.0 -3.1 3.7 30.9 10.4eDK0.2 18.8 3.0 6.3 -2.7 -4.9 43.6 0.8 0.7 -9.4 3.1 -1.9 0.9 na5.6 -1.7 4.1 136.3 20.3eDE0.4 20.3 2.9 7.1 22.1 1.8 40.0 -3.6 -1.3 -8.3 -2.3 -0.2 -0.7 na-10.7 8.2 5.9 56.6 23.5eEE3.1 28.5 2.1 1.5 3.2 7.7 93.6 -1.3 5.2 17.8 -1.5 1.7 1.5 na42.5 23.0 2.9 41.9 7.1eIE0.2 19.6 1.6e-3.3 -256.8 25.9 337.8 -3.0 -5.1 -10.0 -3.6 -4.0 0.8 na-5.6 -37.9 1.5 98.5 15.8eEL-7.3p12.6p0.7 -2.3 -122.3 0.7 11.5 -4.0p2.0 -18.8 -3.5p-1.9p-1.1pna8.2 -20.4e3.1p64.8 26.6eES-3.0 18.5 1.3 0.6 -73.7 1.6 55.4 -3.8 0.8 -9.1 -4.6 -2.2 1.1 na3.1 -22.7 4.6 81.6 17.9eFR0.3 22.5 2.2 -1.1 -27.0 1.2 40.5 -3.3 -0.5 -10.0 -2.1 -0.3 0.0 na1.9 10.3 6.2 55.1 20.1eHR-2.2 19.6 0.8 -1.8 -50.7 2.3 52.5 -5.6 -2.6 -18.2 2.9 -4.6 1.4dna5.1 -7.6 na41.1 naIT-3.0 18.3 1.3 -0.1 -24.6 0.0 23.0 -3.8 1.4 -18.2 -4.8 -1.1 -2.7 na10.4 -0.5e4.9 44.0 14.4eCY-3.4 15.5 0.4 -4.4 -104.1 276.8 1436.8 -7.6 2.0 -12.8e-2.1 -3.6 0.1 na15.1 -10.1 4.9 127.9 26.0eLV4.1 25.3 0.7 -0.7 -25.1 3.8 49.4 -6.1 -0.7 18.9 -1.3 6.7 2.6 na56.0 1.2 2.2 32.7 10.2eLT3.8 17.4 0.9 1.3 -22.9 1.6 41.9 -7.5 1.7 39.9 -1.4 7.7 1.9 na9.6 -1.5 1.9 23.7 10.2eLU-0.4 20.2 1.3b4.8 -2455.5 971.6 5978.7 -6.3 2.8 4.1 4.2 -0.3 -2.7 na17.4 13.9 3.2 61.0 15.1eHU-1.5 19.2 1.3 4.1 -42.0 8.2 226.9 -6.3 4.6 -15.4 -2.4 -4.8 -2.3 na20.0 -9.2 2.0 31.5 11.5eMT2.8 18.1 0.8 1.5 268.0 36.1 2051.0 -12.2 1.1 23.6 0.1 3.8 0.0 na13.6 2.7 3.0 61.0 5.0eNL-1.0 18.8 1.9b8.9 -69.6 29.4 503.2 -2.6 -0.4 -4.0 -2.6 0.2 -0.8 na1.6 -10.1 3.5 117.4 22.3eAT0.7 22.6 2.9e1.3 -16.0 1.3 74.7 -3.9 1.3 -13.8 -3.2 -1.7 -0.4 na1.7 21.1e4.3 52.0 13.5ePL1.6 19.8 0.9 -1.5 -26.4 1.5 47.7 -3.4 7.3 11.7 -2.6 1.5 1.5 na-3.4 -7.0e3.2 34.1 9.1ePT-4.1 15.8 1.4 0.3 -82.1 10.1 70.8 -4.7 0.9 -8.9 -0.2 0.0 0.0 na-8.5 -11.0 3.0 90.4 15.5eRO2.1 27.4 0.5 -3.4 -25.0 1.8 43.3 -3.0 3.2 23.7 5.3 -2.0 0.6 na79.8 -23.0 3.1 20.7 9.7eSI-2.6 19.0 2.6 1.4 -37.6 0.1 29.6 -6.7 0.2 -12.8 -4.3 -2.6 -1.7 na12.7 -4.2 2.5 30.7 12.9eSK1.9 20.3 0.8 2.9 -8.6 1.8 64.0 -5.8 1.9 -1.2 -6.0 6.0 1.8 na7.5 -8.0 2.9 28.4b8.5eFI-1.4 23.1 3.4 -2.0 -2.2 1.9 51.7 -2.6 1.6 -25.5 -5.3 -2.9 -2.2 na7.5 12.3 6.7 61.4 26.3eSE-0.6 23.0 3.2e5.4 -20.5 0.8 90.3 -1.7 19.3 -11.3 -0.4 -2.0 -1.4 na2.6 12.1 3.5 79.5 22.1eUK1.5 15.5 1.6e-3.5 -24.0 1.7 73.1 -1.2 14.5 -13.2 -1.5 -2.5 0.4 na8.8 4.6 3.1 88.9 19.1eFlags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = NSI estimates for BG and PL; e = estimate by NCB for EL, IT and AT. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.7 (continued): Auxiliary indicators, 2012 

37 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.4 66.9 3.4 19.8 12.3 1.2 21.6 1.4 15.3 0.7 6.3 1.1 13.9 1.6 BG-2.5p67.1 6.8 28.1 21.5 2.0 49.3 3.1 21.2 -0.6 44.1 2.2 12.5 5.6 CZ0.4 71.6 3.0 19.5 8.9 0.4 15.4 1.4 9.6 1.0 6.6 0.5 6.8 0.8 DK-0.7 78.6 2.1 15.7 6.6 1.2 17.5 -0.1 12.0 -1.1 2.7 0.4 10.2 1.4 DE1.1 77.2 2.4 8.0 7.1 -1.7 19.6 -0.4 16.1 0.6 4.9 -0.5 9.9 -1.0 EE1.6 74.8 5.5 20.9 12.2 -2.3b23.4 0.0 17.5 -2.2 9.4 3.2 9.1 3.5 IE-0.5 71.1 9.2 30.8 19.2 0.9 30.1 4.4 16.3 1.3 9.9 3.8 23.4 3.4 EL-6.3p67.5 14.5 55.3 20.2 7.8b34.6 7.0 23.1 3.4 19.5 8.5 14.2 7.6 ES-4.0 74.3 11.0 52.9 18.6 0.5 27.2 2.5 20.8 0.4 5.8 1.3 14.3 6.7 FR0.3 70.3e4.1e24.4 12.5 -0.2 19.1 0.6 14.1 1.2 5.3 -0.3 8.4 0.0 HR-3.6d63.9 10.2 42.2 16.6 3.2 32.6 na20.4 na15.9 na16.8 naIT-0.3 63.5 5.6 35.3 21.0 3.4 29.9 5.0 19.5 1.1 14.5 7.2 10.6 1.4 CY-3.5 73.5 3.6 27.7 16.0 6.1b27.1 3.6 14.7 -1.1 15.0 5.5 6.5 2.5 LV1.4 74.4 7.8 28.5 14.9 -2.6 36.2 -1.7 19.2 -7.2 25.6 3.5 11.7 4.3 LT1.9 71.8 6.6 26.7 11.2 -0.9 32.5 2.9 18.6 -1.7 19.8 4.2 11.4 4.2 LU2.4 69.4 1.6 18.0 5.9 0.1b18.4 0.6 15.1 0.2 1.3 0.2 6.1 -0.2 HU0.9 63.7 5.0 28.2 14.8 1.2 33.5 3.9 14.3 1.9 26.3 6.0 13.5 2.2 MT2.8 63.9 3.0 13.8 10.8 0.9 23.1 2.8 15.1 0.2 9.2 4.2 9.0 -0.2 NL-0.2 79.0 1.9 11.7 4.9 -0.1 15.0 -0.1 10.1 -1.0 2.3 0.9 8.9 0.4 AT1.0 75.1 1.2 9.4 6.8 -1.4 18.5 -0.6 14.4 -0.1 4.0 -0.6 7.7 0.6 PL0.1 66.5 4.1 26.5 11.8 1.7 26.7 -1.1 17.1 0.0 13.5 -1.5 6.9 0.0 PT-4.1 73.4 7.7 38.0 13.9 2.7 25.3 0.4 17.9 0.0 8.6 -0.5 10.1 3.1 RO1.4 64.8 3.0 22.6 16.8 2.9 43.2 0.2 22.9 0.8 31.1 -1.0 7.9 -0.2 SI-0.9 70.4 4.3 20.6 9.3 1.8 19.6 2.5 13.5 2.2 6.6 0.5 7.5 1.9 SK0.1 69.4 9.4 34.0 13.8 1.3 20.5 0.9 13.2 2.2 10.5 -0.6 7.2 1.6 FI0.9 75.2 1.6 19.0 8.6 -1.3 17.2 0.3 13.2 -0.6 2.9 0.1 9.3 0.9 SE0.7 80.3 1.5 23.7 7.8 -1.8 17.7 -0.1 15.2 0.8 1.8 -0.2 8.1 -0.4 UK1.1 76.1 2.7 21.2 13.9 0.7 24.1b2.1b16.0 -1.3 7.8 4.5u13.0b0.3bPeople at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. u:Low reliability. 1) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2012Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
Table 2.8: Auxiliary indicators, 2011 

38 

Year2011Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.7 23.0 2.2 -2.0 63.9 31.5 242.2 -4.7 1.3 -0.6 -2.7 -2.2 0.4 na0.8 6.8 5.8 54.4 21.7eBG2.4 21.0 0.5 1.6 -1.9 3.7 87.8 -6.3 3.9 19.8 11.5 5.8 4.7 na34.4 -32.4e2.2 26.5 7.4eCZ1.8 26.5 1.6 -1.8 7.8 1.9 69.6 -4.4 0.8 15.8 -1.7 2.4 2.1 na7.2 -5.5 3.7 30.0 11.8eDK1.3 18.2 2.9 6.9 -12.0 3.8 43.9 0.7 1.5 -7.1 2.0 0.4 1.4 na8.4 -11.0 4.3 138.4 21.1eDE3.9 20.4 2.8 6.2 15.5 2.6 35.9 -3.6 -1.0 -2.3 -1.7 1.6 2.7 na-13.7 5.5 5.6 57.1 25.7eEE7.4 26.2 2.3 5.3 -1.7 4.9 89.0 -0.4 2.8 34.1 1.0 17.4 0.8 na42.9 -28.0 2.7 45.6 8.1eIE0.3 16.6 1.6e-1.5 -239.2 15.3 314.3 -3.3 -6.5 -3.3 -1.4 -3.6 2.6bna-5.2 -42.0 2.0 104.7 17.7eEL-9.1p15.3p0.7 -7.3 -97.4 0.4 12.2 -3.6p4.5 -10.7 -1.5p-6.8p-2.4pna20.3 -13.2e4.6p63.8 naES-0.8 20.0 1.3 -2.8 -76.9 2.2 51.6 -3.8 0.4 -1.2 -2.7 1.4 1.8 na8.6 -15.3 5.4 82.5 17.4eFR2.2 22.4 2.2 -0.9 -23.1 1.5 40.2 -3.0 -0.4 -8.9 -0.7 -0.4 1.4 na2.3 4.0 6.4 54.8 21.1eHR-0.3 20.2 0.8 -1.7 -53.1 2.0 51.1 -5.4 -2.2 -9.1 4.8 -4.5 3.7dna12.1 -10.9 na41.4 naIT0.7 19.7 1.2 -2.8 -22.3 1.5 21.4 -3.6 0.9 -12.9 -2.3 -1.4 0.4 na12.8 1.6e5.2 43.8 14.9eCY0.4 19.0 0.5 -2.0 -100.8 146.1 1156.6 -6.7 0.7 -3.5e-1.7 0.2 0.1 na15.0 -13.3 6.2 121.9 19.9eLV6.3 22.0 0.7 -1.1 -31.7 5.4 49.9 -5.5 0.3 36.4 6.3 5.2 4.7 na47.5 -38.4 1.9 40.3 10.7eLT6.0 18.5 0.9 -0.5 -21.5 4.3 42.3 -7.6 4.8 35.8 0.4 7.7 5.4 na10.2 -30.8 2.0 25.8 11.3eLU2.5 19.2 1.5 5.6 -1942.7 679.9 4666.0 -5.9 2.0 3.7 3.0 -2.8 -0.4 na15.6 8.0 3.0 57.7 17.7eHU1.8 19.7 1.2 3.0 -47.5 10.0 235.9 -6.0 -2.5 3.1 -1.1 -0.4 1.8 na23.6 -10.7 2.2 37.3 13.5eMT1.3 17.9 0.7 -0.8 218.3 82.1 2026.2 -2.8 1.9 26.8 1.1 -5.2 -1.6 na9.9 -4.6 3.4 60.3 5.1eNL1.6 20.1 1.9b8.7 -74.1 37.1 472.5 -1.9 0.0 -1.2 -2.9 -1.6 0.7 na3.8 -8.0 4.2 117.5 24.2eAT2.9 22.5 2.7 1.5 -14.2 5.4 72.8 -3.7 1.2 -5.7 -3.1 -0.9 1.3 na-0.8 17.3e4.4 53.2 14.7ePL5.0 20.7 0.8 -3.2 -25.6 3.4 47.3 -3.3 -9.5 24.1 0.3 1.1 4.4 na-7.5 -6.4e3.0 35.1 9.9ePT-1.7 18.4 1.5 -4.5 -71.6 4.0 58.1 -4.2 -0.5 -2.9 -0.4 0.1 0.3 na-3.6 -5.1 3.3 90.5 19.6eRO2.0 27.2 0.5b-4.4 -25.1 1.3 41.8 -2.7 -1.6 61.6 18.2 5.3 4.4 na74.5 -38.2e2.7 21.7 10.0eSI0.9 19.9 2.4b-1.0 -35.4 1.7 28.5 -6.2 0.4 1.7 -2.4 0.1 2.6 na18.8 -6.9 2.8 29.9 13.3eSK2.9 23.3 0.7 -3.7 -12.4 5.6 65.3 -6.4 4.9 4.8 -5.9 3.8 1.1 na11.4 -17.5 2.8 26.4 9.4eFI2.5 22.6 3.6 -1.3 2.9 -2.2 50.4 -3.7 2.2 -17.6 -4.3 -4.8 0.9 na3.4 11.3 6.6 59.4 26.1eSE3.1 23.2 3.2 5.3 -18.6 1.1 90.2 -1.8 7.4 -5.4 1.0 -0.1 0.7 na-0.1 14.1 4.0 76.7 24.1eUK1.5 15.4 1.7b-1.8 -22.5 1.0 59.9 -1.0 -2.7 -20.2 -3.0 0.5 1.0 na7.8 -5.1 3.2 90.2 20.5eFlags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) House price index e = NSI estimates for BG, PL and RO; e = estimate by NCB for EL, IT, and AT. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.8 (continued): Auxiliary indicators, 2011 

39 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.3 66.7 3.5 18.7 11.8b1.7b21.0 0.2 15.3 0.6 5.7 0.1 13.8 2.1 BG-2.2 65.9b6.3b25.0 21.8 4.4b49.1 4.3b22.2 0.8 43.6 2.4 11.0 2.9bCZ-0.3 70.5b2.7b18.1 8.3b1.6b15.3 0.0 9.8 0.8 6.1 -0.7 6.6 -0.6 DK0.0 79.3 1.8 16.3 6.3 2.0 17.6b1.3b12.1 0.3 2.3 0.3 10.5 2.0 DE1.2 77.3b2.8b8.5 7.5b-0.9b19.9 -0.2 15.8 0.6 5.3 -0.2 11.2 -0.5 EE6.5 74.7 7.1 22.4 11.6 2.9 23.1 1.3 17.5 -2.0 8.7 3.8 10.0 4.7 IE-2.2b71.2 8.8 29.6 19.1 5.2 29.4 5.7 15.2 -0.3 7.8 2.3 24.2 10.5 EL-6.9p67.3 8.8 44.7 17.4 6.0b31.0 2.9 21.4 1.3 15.2 4.0 12.0 4.5 ES-2.5 73.9 8.9 46.2 18.2 3.9 26.7 2.9b20.6 0.8 4.5 0.9 13.4 6.8 FR0.8 69.7e4.0e22.6 12.3 1.8 19.3 0.8b14.0 1.5 5.2 -0.2 9.4 0.6 HR-3.9d64.1 8.4 36.6 16.2 4.6 32.6 na20.9 na15.2 na15.9 naIT0.3 62.1 4.3 29.2 19.7 3.1 28.1 2.6 19.8 0.9 11.1 3.6 10.5 0.1 CY0.3 73.5 1.6 22.4 14.6 4.9 24.6 1.3b14.8 -1.1 11.7 2.6 4.9 0.4bLV1.5 72.8 8.8 31.0 16.0 4.2 40.1 5.9b19.0 -6.9 31.0 11.7 12.6 7.2 LT0.6 71.4 8.0 32.6 11.8 3.0 33.1 4.8 19.2 -1.7 19.0 6.5 12.7 6.6 LU3.0 67.9 1.4 16.4 4.7 -1.5 16.8 1.3 13.6 0.2 1.2 0.5 5.8 1.1 HU0.0 62.4 5.2 26.0 13.2 1.7 31.5 3.3 14.1 1.7 23.4 5.5 12.8 0.8 MT2.9 61.8 3.0 13.3 10.2 1.9 22.1 2.0 15.6 0.3 6.6 2.3 8.9 0.3 NL0.9 78.1 1.6 10.0 4.3 0.4 15.7 0.8 11.0 0.5 2.5 1.0 8.9 0.7 AT1.6 74.6 1.2 8.9 7.3 -0.1 19.2 -1.4b14.5 -0.7 4.0 -1.9 8.6 1.2bPL0.6 65.7 3.6 25.8 11.5 2.5b27.2 -3.3b17.7 0.8 13.0 -4.7b6.9 -1.1 PT-1.9 73.6b6.2b30.2 12.6b2.4b24.4 -1.6 18.0 -0.5 8.3 -1.4 8.3 2.0 RO-2.3 64.1 2.9 23.9 17.5 5.9 40.9 -3.3 22.3 -1.3 29.5 -3.2 7.3 -1.2 SI-1.7 70.3 3.6 15.7 7.1 0.6 19.3 0.8 13.6 1.3 6.1 -0.6 7.6 0.9 SK1.8 68.7b9.2b33.7d13.8b2.7b20.6 0.0 13.0 2.1 10.6 -1.2 7.7 2.5 FI1.6 74.9 1.7 20.1 8.4 0.6 17.9 0.5 13.7 0.1 3.2 -0.3 10.0 2.5 SE2.3 79.9 1.5 22.8 7.5 -0.3b18.5 1.8b15.4 1.9b1.7 -0.1b9.4 2.4bUK0.5 75.5 2.7 21.3 14.2 2.1b22.7 -0.5 16.2 -2.5 5.1 0.6 11.5 1.1 People living in households with very low work intensity -% of total population aged 0-59Year2011Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationFlags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Table 2.9: Auxiliary indicators, 2010 

40 

Year2010Real GDP* (1 year % change) Gross fixed capital formation* (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products*(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade*(5 year % change)Export market share in volume*(1 year % change)Labour productivity*(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction* (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE2.9 22.1 2.1 1.6 61.6 26.0 230.4 -3.7 1.9 -4.3 -2.0 -2.6 2.2 na1.2 7.2 6.1 52.7 20.1eBG0.6 22.3 0.6 -1.0 -8.7 3.6 90.7 -5.7 11.7 16.8 14.0 -2.0 4.6 na40.2 -10.6e2.7 28.7 7.4eCZ2.3 26.9 1.3 -2.6 7.5 4.9 70.1 -3.5 12.7 20.9 -2.1 1.7 3.3 na11.1 6.6e4.0 29.0 11.9eDK1.9 18.1 2.9 6.6 -21.3 -3.6 43.5 0.9 1.7 -3.3 3.3 -10.1 4.3 na11.7 -14.2 3.7 138.3 21.8eDE4.2 19.5 2.7 5.8 20.9 2.5 35.3 -2.9 -1.5 -0.6 -0.8 1.4 3.8 na-16.1 3.3 5.2 59.4 25.8eEE2.7 21.1 1.6 5.2 -17.1 13.0 94.0 -1.5 6.4 18.5 3.0 11.2 8.0 na47.7 -40.0 2.6 53.0 12.4eIE1.8 17.5 1.6e-1.1 -237.3 16.8 302.5 -2.8 -5.3 1.4 -4.2 -7.0 6.1 na4.8 -34.9 3.0 110.2 21.1eEL-5.5 17.6 0.6e-9.1 -99.9 0.2 13.8 -3.0 5.0 -8.8 -1.0 -8.1 -3.0 na22.7 -6.7e5.0 61.2 15.4eES0.2 21.8 1.4 -3.5 -72.3 2.8 50.5 -2.9 0.9 -4.5 1.4 -3.9 1.9 na11.5 -9.6 6.6 84.4 17.2eFR1.9 22.1 2.2b-0.6 -24.5 1.5 38.1 -2.4 -0.2 -10.4 0.2 -4.3 1.8 na2.1 -0.9 6.3 53.7 20.1eHR-1.5 21.2 0.7 -2.1 -50.9 2.5 55.1 -3.8 4.3 -3.3 5.8 -5.2 2.4dna7.9 -8.4ena41.8 naIT1.7 20.0 1.2 -3.3 -22.3 0.4 20.2 -3.2 0.7 -12.4 -2.7 -1.2 2.4 na13.8 2.9be5.5 43.6 12.7eCY2.0 22.5 0.4 -10.5 -57.2 120.7 1041.1 -5.9 0.4 -9.0e-1.9 -6.9 1.4 na13.2 -6.9 8.0 118.4 15.2eLV-4.5 19.2 0.6 3.8 -41.6 2.0 49.3 -4.9 8.3 31.6 2.6 0.4 2.3 na48.9 -43.6 1.7 49.7 12.7eLT1.5b16.9b0.8 4.0 -25.3 2.9 43.9 -7.1b9.9 26.0 -1.7b2.9b7.0bna4.6 -29.3 2.1b29.6 14.2eLU4.9 17.6 1.5 6.2 -1850.5 423.7 3640.8 -4.8 1.7 11.7 4.6 -2.6 3.0 na19.1 7.7 2.9 57.9 16.8eHU0.7 20.2 1.1 2.1 -49.3 -15.9 214.1 -5.1 0.0 9.1 -1.0 -1.9 1.3 na34.1 -5.3 3.1 39.4 12.3eMT3.5 21.4 0.6 -4.3 224.6 106.3 1859.2 1.1 3.5 49.1 1.6 -6.1 1.8 na9.9 7.4 3.4 59.6 5.0eNL1.3 19.7 1.7 6.5 -78.9 14.5 431.3 -1.5 -1.0 -0.6 -1.2 -3.3 2.0 na3.7 -4.0 4.7 118.0 23.2eAT1.8 21.6 2.7e2.9 -10.3 -5.4 74.8 -2.9 0.2 -5.5 -2.5 0.1 1.1 na-1.5 11.5be4.3 54.6 13.8ePL3.6 20.3 0.7 -3.6 -24.5 3.7 48.4 -2.6 -0.1 34.9 1.7 0.1 6.4bna-3.2 -7.2 3.2 34.2 10.0ePT1.7 20.6 1.5 -8.8 -67.7 3.5 59.2 -3.4 -2.1 -0.1 2.1 -3.8 3.2 na0.6 3.6e3.6 90.7 16.2eRO-3.9 26.1 0.5 -5.0 -23.1 2.0 41.8 -2.2 -9.2 65.9 25.5 2.5 -0.7 na169.8 na2.9 22.8 10.1eSI1.3 21.1 2.1 -0.6 -42.0 0.6 26.9 -5.0 3.1 6.7 -1.6 -2.8 3.5 na29.5 -3.0 3.1 30.3 13.2eSK5.7 21.1 0.6 -3.2 -10.9 2.3 62.1 -5.6 12.7 12.4 -5.9 4.3 7.3 na12.5 -1.2 2.8 24.8 10.4eFI3.2 22.3 3.7 1.6 8.0 4.8 54.4 -2.8 1.9 -13.1 -5.8 -6.8 3.8 na2.3 8.7 6.3 59.2 19.6eSE6.2 22.7 3.2e5.7 -16.8 0.2 91.6 -1.6 -1.1 -5.6 1.8 -2.2 5.5 na0.8 12.5 3.7 76.0 22.4eUK1.9 15.8 1.7e-3.2 -26.6 2.6 59.2 -0.4 -16.8 -17.7 -1.7 -7.2 1.7 na10.2 -8.0 3.2 93.1 20.8eFlags:b:Break in series. e:Estimated. d:Definition differs. 1) House price index e = NSI estimates for BG and CZ; e = estimate by NCB for EL, HR, IT, PT, and AT. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept. *) LT, b: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.9 (continued): Auxiliary indicators, 2010 

41 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.6 67.7 4.0 22.4 10.9 -0.3 20.8 -0.8 14.6 -0.6 5.9 0.2 12.7 -1.1 BG-3.9 66.7b4.7b21.9d21.0b1.9b49.2 -11.5 20.7 -1.3 45.7 -11.9 8.0 -8.0 CZ-1.0 70.2 3.0 18.3 8.8 1.9 14.4 -1.4 9.0 -0.6 6.2 -1.2 6.4 -2.2 DK-2.3 79.4 1.5 15.5 6.0 1.7b18.3 1.5 13.3 1.6 2.7 -0.6 10.6 0.5 DE0.4 76.7b3.3b9.8 8.3b-0.6b19.7 -0.9 15.6 0.4 4.5 -0.3 11.2 -0.3 EE-4.9 73.9 7.6 32.9 14.0 5.1 21.7 -0.3 15.8 -3.6 9.0 3.4 9.0 2.8 IE-4.1 71.6 6.9 28.1 19.4 9.9b27.3 4.2 15.2 -2.0 5.7 1.2 22.9 8.6 EL-2.6 67.8 5.7 33.0 14.8 3.5 27.7 -0.6 20.1 -0.2 11.6 0.1 7.6 -0.5 ES-1.7 73.5 7.3 41.5 17.8 5.8 26.1 2.8 20.7 1.0 4.9 1.4 10.8 4.0 FR0.1 69.8e3.9e23.3 12.7 2.0 19.2 0.2 13.3 0.2 5.8 1.1 9.9 0.3 HR-3.8d65.1 6.6 32.3 15.7 2.8 31.1 na20.6 na14.3 na13.9 naIT-0.6 62.0 4.0 27.9 19.0 2.9 25.0 -1.0 18.7 -0.8 7.4 0.4 10.6 0.4 CY0.6 73.6 1.3 16.6 11.7 2.7 24.6 -0.6 15.6 0.1 11.2 -2.1 4.9 1.2 LV-6.7 73.0 8.8 36.2 17.8 5.9 38.2 3.1 20.9 -0.3 27.6 3.6 12.6 6.4 LT-5.2b70.2 7.4 35.7 13.2 6.1 34.0 5.3 20.5 1.4 19.9 3.3 9.5 3.1 LU1.8 68.2 1.3 15.8 5.1 -0.6b17.1 1.2 14.5 1.0 0.5 -0.3 5.5 0.5 HU-0.7 61.9 5.5 26.4 12.6 1.1 29.9 0.5 12.3 0.0 21.6 1.7 11.9 0.6 MT1.7 60.4 3.1 13.2 9.5 -2.0 21.2 1.5 15.5 0.4 6.5 2.1 9.2 -0.4 NL-0.7 77.9 1.3 11.1 4.8 0.5 15.1 -0.6 10.3 0.1 2.2 0.5 8.4 -1.3 AT0.8 74.4 1.2 9.5 7.4 0.0b18.9 2.2 14.7 2.7 4.3 1.0 7.8 -0.4 PL-2.7b65.3b3.0b23.7 10.8b0.2b27.8 -6.6 17.6 0.3 14.2 -8.1 7.3 -2.8 PT-1.4 73.7 5.7 28.2 11.4 0.2 25.3 0.3 17.9 -0.2 9.0 -0.6 8.6 1.4 RO-3.2 64.9b2.4b22.1 16.6b3.3b41.5 -5.5 21.6 -3.0b30.5 -7.5 7.7 -2.2 SI-2.1 71.5 3.2 14.7 7.1 0.4 18.3 1.2 12.7 1.2 5.9 0.8 7.0 -0.3 SK-1.5 68.7 9.2 33.9 14.1 1.6 20.6 -0.8 12.0 1.4 11.4 -2.3 7.9 1.5 FI-0.6 74.5 2.0 21.4 9.0 2.0 16.9 -0.5 13.1 0.1 2.8 -0.8 9.3 0.5 SE0.6 79.1 1.6 24.8 7.7 0.2b17.7 3.8 14.8 4.3 1.9 -0.3 8.5 2.5 UK0.2 75.4 2.5 19.9 13.6 1.7b23.2 0.6 17.1 -1.5 4.8 0.6 13.2 2.8 Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. e:Estimated. 1) Employment rate HR d: employment data use national concept instead of domestic concept. LT b: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2010Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%) 
 
 
 
 
 
 
 
 
Table 2.10: Auxiliary indicators, 2009 

42 

Year2009Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments (% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE-2.0 22.8 2.0 1.5 59.8 15.1 214.8 -3.3 0.6 -1.3 -0.9 -1.3 -1.9 na0.2 12.0 6.1 51.9 22.2eBG-3.4 27.8 0.5 -7.0 -8.0 7.5 94.2 -5.0 16.0 29.1 12.0 -1.7 -1.7 na35.2 28.2e4.7 29.5 7.5eCZ-4.8 27.1 1.3 -1.0 8.6 2.5 66.2 -2.7 10.4 37.9 -2.4 0.2 -3.1 na10.8 29.5e3.8 28.5 12.1eDK-4.9 20.2 3.1 3.4 -28.6 1.2 46.8 1.0 0.4 7.2 2.7 0.8 -1.8 na10.7 -14.3 4.2 142.5 22.2eDE-5.7 19.3 2.7 5.8 21.0 1.6 34.4 -2.5 -1.1 1.0 -0.3 -4.3 -5.8 na-16.4 0.0 5.2 62.1 26.6eEE-14.4 22.6 1.4 5.9 -30.5 9.1 88.7 -2.2 8.9 26.1 7.0 -10.3 -4.7 na53.4 -31.5 3.1 57.4 14.2eIE-5.1 21.1 1.6e-4.6 -217.2 22.8 274.8 -2.3 -1.6 10.5 0.8 14.6 3.0 na15.5 -19.1 4.7 116.2 20.9eEL-4.3 20.8 0.6e-11.5 -83.7 0.8 13.8 -2.2 2.5 -2.8 -2.3 -8.5 -3.8 na21.0 3.7e6.5 52.0 14.6eES-3.8 23.1 1.4 -4.0 -72.3 0.9 49.0 -2.3 1.1 -1.1 5.2 -0.8 2.7 na14.1 1.1 7.7 85.0 16.4eFR-2.9 22.1 2.2 -0.5 -24.2 0.7 37.0 -2.0 -1.2 -6.3 0.2 -0.9 -1.8 na-0.2 0.0 6.3 52.6 20.7eHR-7.4 25.2 0.8 -6.6 -49.0 4.8 51.5 -3.6 4.1 4.0 5.2 -3.8 -6.7dna10.5 9.5ena39.9 naIT-5.3 20.1 1.2 -1.8 -20.9 0.9 22.0 -2.6 0.3 -11.1 -1.3 -7.8 -3.7 na11.6 7.2e5.5 42.5 12.8eCY-2.0 23.4 0.4 -6.3 -43.8 252.2 968.5 -4.6 -1.3 -1.5e-4.0 5.3 -2.0 na13.4 10.3 9.8 113.5 17.2eLV-14.2 22.4 0.5 10.1 -43.7 -0.6 45.7 -4.4 18.9 65.5 1.5 -2.9 0.1 na60.3 -13.6 2.4 50.8 13.2eLT-14.8 17.9 0.8 6.4 -30.1 -1.0 40.8 -4.1 12.9 41.9 -1.3 -2.8 -7.7 na0.3 -3.5 3.3 32.6 17.8eLU-4.4 18.4 1.7 6.1 -1591.8 410.6 3505.4 -4.1 0.9 21.3 3.6 -1.6 -5.4 na21.4 9.3e3.5 58.2 18.5eHU-6.7 22.7 1.1 1.0 -51.4 -2.4 226.7 -4.9 5.2 19.6 -2.7 -0.7 -4.9 na47.1 na4.1 37.5 13.4eMT-2.5 18.2 0.5 -7.3 93.6 16.8 1698.3 -0.1 1.5 58.1 1.0 9.6 -2.5 na6.8 28.6 4.3 60.3 9.5eNL-3.7 21.3 1.7 5.5 -74.9 10.9 417.1 -0.7 -1.1 2.6 0.9 1.4 -2.8 na6.3 2.4 5.6 117.2 23.2eAT-3.8 22.4 2.6 2.6 -4.8 3.4 81.1 -2.4 -0.3 1.9 -1.7 -4.4 -3.3 na-3.7 9.9e4.3 53.5 15.4ePL2.8 21.4 0.7 -2.3 -22.4 3.2 40.4 -2.2 -6.2 45.8 4.5 4.1 2.4 na-3.7 43.4e3.4 31.6 9.3ePT-3.1 21.2 1.6 -9.3 -71.2 2.3 56.4 -2.8 -1.8 -1.0 2.4 0.0 -0.4 na4.0 4.2e4.1 92.1 16.1eRO-5.5 26.0 0.4 -4.2 -21.1 2.7 39.1 -1.5 -6.3 83.7 29.5 4.3 -1.9 na289.1 na2.8 21.4 11.0eSI-7.5 24.1 1.8 -1.0 -39.5 -0.7 26.0 -3.9 3.9 19.2 0.3 -6.6 -6.0 na36.0 19.8e3.8 28.4 12.9eSK-5.5 20.8 0.5 -2.7 -11.9 1.9 64.3 -4.4 24.8 18.8 -5.2 -6.4 -3.6 na22.6 32.7 3.4 23.7 10.5eFI-8.1 23.0 3.7 2.1 4.1 -3.3 50.5 -2.4 0.8 -6.1 -7.1 -10.1 -5.7 na2.0 8.3 5.4 57.5 16.8eSE-4.2 22.7 3.4 5.8 -24.6 2.1 99.7 -1.2 -12.2 -8.8 0.3 -4.3 -2.2 na5.9 17.3 3.3 75.8 22.8eUK-4.2 15.9 1.7e-3.3 -36.2 0.4 56.9 -0.4 -21.7 -13.0 -2.9 2.2 -2.7 na9.3 -4.4 3.1 95.7 22.0eFlags:d:Definition differs. e:Estimated. 1) House price index e = NSI estimates for BG, CZ and SI; e = estimate by NCB for EL, HR, IT, PL, PT, and AT; e = NSI&NCB estimates for LU. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworld volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.10 (continued): Auxiliary indicators, 2009 

43 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE-0.2 66.9 3.5 21.9 11.1 -0.1b20.2 -1.3 14.6 -0.1 5.2 -1.2 12.3 -2.0 BG-1.7 67.2 3.0 15.1 19.5 -2.7b46.2 -15.1 21.8 3.4b41.9 -15.8 6.9 -7.8 CZ-1.8 70.1 2.0 16.6 8.5 -0.7b14.0 -4.0 8.6 -1.3 6.1 -3.5 6.0 -2.9 DK-3.1 80.2 0.6 13.4 5.4 1.8 17.6 0.9 13.1 1.4 2.3 -0.8 8.8 -0.8 DE0.2 76.3 3.5 11.1 8.8 -0.8 20.0 -0.2 15.5 3.0 5.4 0.3 10.9 -2.7 EE-10.2 74.0 3.7 27.4 14.5b5.7b23.4 1.4 19.7 1.4 6.2 -0.8 5.6 -1.5 IE-7.8 73.0 3.5 24.5 18.3 8.6b25.7 2.4 15.0 -3.5 6.1 1.3 20.0 7.1 EL-0.6 67.4b3.9b25.7 12.4b0.4b27.6 -1.7 19.7 -0.8 11.0 -0.5 6.6 -1.5 ES-6.3 73.1 4.3 37.7 18.1 6.3b24.7 0.7 20.4 0.1 4.5 0.4 7.6 1.2 FR-1.1 69.8e3.3e23.6 12.7 1.4 18.5 -0.3 12.9 -0.3 5.6 0.6 8.4 -0.7 HR-0.7d65.6 5.1 25.4 13.4 -0.8bnanananananananaIT-1.6 62.3 3.4 25.3 17.6 0.8b24.9 -1.0 18.4 -0.9 7.3 0.9 9.2 -2.1 CY0.0 73.0b0.6b13.8 9.9b-0.8b23.5 -1.9 15.8 0.2 9.5 -3.1 4.0 0.2 LV-14.3 73.5 4.5 33.3 17.5 6.0b37.9 -4.3 26.4 2.9 22.1 -9.2 7.4 0.3 LT-7.7 69.6 3.3 29.6 12.1 3.8b29.6 -6.3 20.3 0.3 15.6 -9.7 7.2 -1.1 LU1.0 68.7b1.2b16.5 5.8b-0.9b17.8 1.3 14.9 0.8 1.1 0.0 6.3 1.1 HU-1.9 61.2 4.2 26.4 13.6 1.2b29.6 -1.8 12.4 -3.5 20.3 -0.6 11.3 -1.8 MT0.0 59.4 2.9 14.5 9.9 -0.4b20.3 0.8 14.9 0.7 5.0 1.1 9.2 -0.5 NL-0.9 78.1 1.1 10.2 5.0 0.1b15.1 -0.9 11.1 1.4 1.4 -0.9 8.5 -2.4 AT-0.5 74.3 1.2 10.7 8.2 0.4b19.1 1.3 14.5 1.9 4.6 1.0 7.1 -1.0 PL0.4 64.7 2.5 20.6d10.1 -2.5 27.8 -11.7 17.1 -2.0 15.0 -12.6 6.9 -5.5 PT-2.7 73.4 4.2 25.3 11.2 0.6b24.9 -0.1 17.9 -0.6 9.1 0.0 7.0 0.4 RO-3.7 63.1 2.2 20.0 13.9 -0.9b43.0 na22.1 4.1 32.1 na8.1 naSI-1.6 71.8 1.8 13.6 7.5 -1.0b17.1 0.0 11.3 -0.3 6.1 1.0 5.6 -1.3 SK-2.0 68.4 6.5 27.6 12.5 -1.9b19.6 -7.1 11.0 -0.6 11.1 -7.1 5.6 -0.6 FI-2.5 75.0 1.4 21.5 9.9 2.2 16.9 -0.2 13.8 1.2 2.8 -0.5 8.4 -0.7 SE-2.1 78.9 1.1 25.0 9.6 0.3b17.8 1.5 14.4 2.1 2.0 -0.1 8.5 1.7 UK-1.6 75.7 1.9 19.1 13.2 4.6 22.0 -1.7 17.3 -1.7 3.3u-1.2u12.7 0.7 Severely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. d:Definition differs. e:Estimated. u:Low reliability. 1) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2009Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total population 
 
 
 
 
 
 
 
 
Chapter 3: Tables by indicator 
Table 3.1: Current account balance, % of GDP (3 year average) 

44 

2009201020112012201320142015201620172018BE0.9 0.8 0.4 -0.1 -0.4 0.5 1.0 0.9 1.1 0.3 BG-18.0 -10.7 -3.2 -0.8 0.3 0.6 0.9 1.5 2.3 4.0 CZ-2.9 -2.6 -2.6 -2.4 -1.4 -0.6 0.0 0.7 1.2 1.2 DK2.6 4.3 5.5 6.5 6.9 7.7 8.3 8.3 7.9 7.5 DE6.1 5.8 5.9 6.4 6.6 7.0 7.4 8.1 8.4 8.0 EE-7.0 -1.4 1.9 0.4 -0.1 -0.3 0.9 1.4 2.0 2.1 IE-5.8 -4.0 -2.5 -2.1 -1.2 -0.3 2.3 0.4 0.2 2.3 EL-14.2 -12.5 -10.3 -7.4 -4.5 -1.9 -1.0 -1.1 -1.5 -2.2 ES-7.5 -5.5 -3.5 -2.1 -0.2 1.3 1.9 2.3 2.6 2.6 FR-0.4 -0.6 -0.7 -0.8 -0.8 -0.8 -0.6 -0.6 -0.5 -0.6 HR-8.5 -6.6 -3.6 -2.0 -1.6 -0.9 0.8 1.8 2.8 2.4 IT-2.0 -2.7 -2.7 -2.1 -0.6 0.9 1.5 2.0 2.2 2.6 CY-11.0 -10.7 -6.6 -5.9 -2.8 -3.4 -2.1 -3.0 -3.3 -4.6 LV-8.4 -0.9 2.1 -1.7 -3.2 -2.9 -2.0 -0.6 0.5 0.6 LT-8.8 -3.6 -0.5 -1.7 -1.2 1.2 0.9 0.0 -1.0 -0.1 LU8.2 7.1 6.6 6.1 5.7 5.4 5.2 5.1 5.0 4.9 HU-5.0 -2.5 0.1 0.8 1.9 2.1 2.3 2.7 3.1 2.1 MT-4.6 -5.7 -5.6 -2.9 -0.8 1.8 2.9 4.1 6.0 8.9 NL5.8 5.8 7.0 8.6 9.5 9.5 8.2 7.6 8.4 9.9 AT3.6 3.3 2.4 2.0 1.7 2.0 2.0 2.3 2.0 2.2 PL-5.7 -5.3 -4.8 -4.8 -3.4 -2.3 -1.3 -1.0 -0.3 -0.5 PT-10.6 -10.8 -8.8 -5.9 -2.0 0.1 0.7 0.5 0.8 0.9 RO-9.9 -7.1 -4.9 -5.0 -3.6 -2.2 -1.0 -1.3 -2.2 -3.3 SI-3.5 -2.4 -0.9 -0.1 1.3 3.2 4.1 4.6 4.9 5.5 SK-5.3 -4.9 -4.3 -2.9 -0.7 1.3 0.3 -1.2 -2.2 -2.4 FI2.9 2.0 0.7 -0.7 -1.8 -1.7 -1.4 -1.4 -1.2 -1.4 SE7.3 6.6 5.8 5.6 5.4 5.1 4.6 4.1 3.6 2.8 UK-3.5 -3.5 -2.8 -2.8 -3.3 -4.3 -4.8 -4.9 -4.5 -4.3 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-residentunits.TheMIPscoreboardindicatoristhethree-yearbackwardmovingaverageofthecurrentaccountbalanceexpressedinpercentofGDP.TheindicatorisbasedonBalanceofPayments (BoP) data. Starting from October 2014 definitions are based on the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.2: Current account balance (% of GDP)  

45 

2009201020112012201320142015201620172018BE1.7 1.6 -1.9 -0.1 1.0 0.8 1.4 0.6 1.2 -1.0 BG-8.3 -1.7 0.3 -0.9 1.3 1.2 0.1 3.2 3.5 5.4 CZ-2.3 -3.6 -2.1 -1.6 -0.5 0.2 0.2 1.6 1.7 0.3 DK3.5 6.6 6.6 6.3 7.8 8.9 8.2 7.8 7.7 7.1 DE5.8 5.7 6.2 7.1 6.6 7.2 8.6 8.5 8.1 7.3 EE2.5 1.8 1.3 -1.9 0.3 0.7 1.8 1.7 2.7 2.0 IE-4.7 -1.2 -1.6 -3.4 1.6 1.1 4.4 -4.2 0.5 10.6 EL-12.3 -10.0 -8.6 -3.5 -1.4 -0.7 -0.8 -1.7 -1.9 -2.8 ES-4.3 -3.9 -3.2 0.1 2.0 1.7 2.0 3.2 2.7 1.9 FR-0.6 -0.6 -0.9 -1.0 -0.5 -1.0 -0.4 -0.5 -0.7 -0.6 HR-6.7 -2.3 -1.8 -1.9 -1.1 0.2 3.2 2.0 3.3 1.9 IT-1.9 -3.3 -2.8 -0.2 1.1 1.9 1.4 2.6 2.7 2.6 CY-6.6 -10.8 -2.4 -4.5 -1.5 -4.3 -0.6 -4.2 -5.1 -4.4 LV7.7 1.8 -3.2 -3.6 -2.7 -2.3 -0.9 1.4 1.0 -0.7 LT2.1 0.2 -3.7 -1.6 1.7 3.5 -2.4 -1.1 0.5 0.3 LU7.2 6.7 6.0 5.6 5.4 5.2 5.1 4.9 4.9 4.8 HU-0.7 0.3 0.6 1.6 3.5 1.2 2.3 4.6 2.3 -0.5 MT-8.5 -6.3 -2.0 -0.4 0.1 5.8 2.8 3.8 11.4 11.4 NL5.4 7.0 8.6 10.2 9.8 8.5 6.3 8.1 10.8 10.9 AT2.6 2.9 1.6 1.5 1.9 2.5 1.7 2.7 1.6 2.3 PL-4.0 -5.4 -5.2 -3.7 -1.3 -2.1 -0.6 -0.5 0.1 -1.0 PT-10.4 -10.1 -6.0 -1.8 1.6 0.1 0.1 1.1 1.2 0.4 RO-4.7 -5.1 -5.0 -4.8 -1.1 -0.7 -1.2 -2.1 -3.2 -4.6 SI-1.1 -0.7 -0.8 1.3 3.3 5.1 3.8 4.8 6.1 5.7 SK-3.4 -4.7 -4.9 0.9 1.9 1.1 -2.1 -2.7 -1.9 -2.6 FI2.0 1.5 -1.4 -2.1 -1.8 -1.3 -0.9 -2.0 -0.8 -1.4 SE6.0 5.9 5.5 5.5 5.2 4.5 4.1 3.8 2.8 1.7 UK-3.3 -3.2 -1.8 -3.4 -4.8 -4.7 -4.9 -5.2 -3.5 -4.3 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-residentunits.TheindicatorisexpressedinpercentofGDPandbasedonBalanceofPayments(BoP)data.StartingfromOctober2014definitionsarebasedontheSixthEditionoftheIMF's Balance of Payments and International Investment Position Manual (BPM6).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.3: Net International Investment Position (% of GDP)   

46 

2009201020112012201320142015201620172018BE58.2 56.3 51.4 40.8 43.2 44.8 45.2 54.5 56.7 41.3 BG-97.0 -92.4 -82.8 -77.7 -73.5 -72.2 -61.8 -47.9 -43.3 -35.2 CZ-43.9 -46.0 -45.2 -45.9 -41.4 -36.6 -32.9 -26.9 -25.0 -23.5 DK0.9 12.8 27.8 36.1 37.2 43.3 33.4 38.2 40.8 48.5 DE25.1 25.8 23.3 28.7 34.7 40.8 46.6 51.4 55.2 62.0 EE-78.2 -69.4 -54.0 -50.7 -49.7 -46.7 -39.9 -39.2 -32.5 -27.7 IE-115.7 -113.5 -139.3 -137.8 -133.4 -164.7 -198.4 -171.7 -167.2 -165.0 EL-87.5 -99.0 -88.8 -115.9 -130.4 -131.9 -135.4 -137.6 -140.7 -143.3 ES-93.5 -88.6 -91.9 -88.9 -92.8 -95.9 -88.9 -85.5 -85.5 -80.4 FR-14.8 -9.3 -8.7 -12.8 -16.6 -15.6 -12.9 -13.0 -16.6 -16.4 HR-89.1 -95.4 -93.1 -91.6 -89.5 -86.8 -78.4 -72.4 -65.6 -57.9 IT-22.3 -20.1 -18.2 -23.0 -23.3 -21.0 -19.3 -11.9 -7.7 -4.7 CY-116.0 -122.2 -141.9 -141.1 -162.5 -163.8 -154.5 -134.3 -127.3 -120.8 LV-82.5 -83.0 -74.7 -67.5 -66.7 -67.1 -64.1 -59.0 -56.2 -49.0 LT-61.1 -60.0 -53.6 -54.3 -50.6 -46.8 -43.6 -42.9 -37.9 -31.0 LU-28.9 -20.4 28.9 58.4 58.9 59.3 50.0 54.6 51.8 59.8 HU-113.4 -106.7 -104.2 -92.2 -82.2 -80.4 -67.9 -59.6 -54.9 -52.0 MT12.6 12.1 6.3 19.6 26.9 43.0 37.4 35.4 63.0 62.7 NL1.4 11.0 20.1 26.7 30.7 48.0 48.9 61.4 59.4 70.7 AT-5.0 -5.2 -1.9 -3.2 1.3 3.4 2.2 4.1 2.8 3.7 PL-57.3 -65.1 -62.4 -65.3 -68.9 -69.1 -62.1 -61.6 -61.2 -55.8 PT-110.7 -107.2 -104.1 -119.3 -120.2 -123.8 -118.9 -110.3 -109.9 -105.6 RO-59.6 -64.1 -66.1 -67.6 -62.8 -57.3 -54.6 -49.0 -47.7 -44.1 SI-40.6 -43.1 -39.8 -44.0 -39.3 -38.4 -31.2 -28.9 -24.2 -18.9 SK-66.4 -61.5 -63.9 -60.6 -62.2 -63.5 -63.9 -66.8 -68.3 -68.1 FI2.6 15.5 13.9 10.6 3.0 -3.1 4.8 5.2 0.1 -2.0 SE-7.1 -5.5 -8.3 -15.5 -15.9 -2.3 -3.9 0.1 4.5 10.3 UK-16.2 -7.9 -11.6 -28.1 -17.8 -22.8 -22.7 0.3 -10.0 -10.5 Theinternationalinvestmentposition(IIP)isastatisticalstatementthatshowsatapointintimethevalueandcompositionoffinancialassetsofresidentsofaneconomythatareclaimsonnon-residentsandgoldbullionheldasreserveassets,andliabilitiesofresidentsofaneconomytonon-residents.Thedifferencebetweenaneconomy’sexternalfinancialassetsandliabilitiesistheeconomy’snetIIP(NIIP),whichmaybepositiveornegative.TheNIIPprovidesanaggregateviewofthenetfinancialposition(assetsminusliabilities)ofacountryvis-à-vistherestoftheworld.TheMIPscoreboardindicatorisexpressedinpercentofGDPandbasedonBalanceofPayments(BoP) statistics. Starting from October 2014 definitions are based on the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6). 1) LU 2008-2015: international investment position has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) 

47 

2009201020112012201320142015201620172018BE4.0 0.5 -1.5 -4.3 -0.2 -0.6 -1.7 -0.4 0.9 6.9 BG18.3 9.7 1.9 -4.0 -0.9 -2.8 -4.3 -4.7 -3.3 3.9 CZ13.5 12.1 -0.5 0.5 -3.1 -10.0 -8.2 -3.7 5.3 11.0 DK5.5 0.2 -2.5 -7.8 -2.5 -1.2 -1.7 -1.7 -2.1 2.6 DE2.9 -3.8 -4.9 -9.0 -1.8 -0.4 -1.5 -2.1 -2.0 5.3 EE13.6 4.6 -0.8 -3.6 3.1 4.8 5.8 4.4 3.0 7.7 IE5.2 -5.4 -9.6 -12.2 -3.8 -3.6 -6.4 -7.1 -6.3 2.3 EL4.8 2.9 1.8 -5.0 -4.4 -5.6 -5.6 -4.0 -3.0 3.6 ES4.6 -0.3 -2.5 -5.3 -0.3 -1.0 -3.2 -4.3 -2.6 4.1 FR2.6 -2.2 -4.4 -7.8 -2.2 -1.3 -2.9 -3.2 -3.0 4.5 HR5.9 1.8 -4.7 -8.4 -3.9 -0.8 0.1 0.0 0.1 4.2 IT3.6 -1.9 -3.2 -6.2 0.1 0.2 -2.4 -3.4 -3.1 3.3 CY3.6 0.0 -3.0 -5.9 -0.8 -1.7 -6.2 -7.4 -6.4 1.8 LV23.5 6.7 -2.4 -8.6 -1.7 0.4 2.5 4.8 1.7 4.9 LT16.7 7.2 1.7 -6.7 -0.6 1.7 4.2 5.3 2.6 6.4 LU3.8 1.2 0.1 -2.4 0.8 0.5 -0.7 -1.5 -1.0 3.3 HU7.7 -1.3 -4.2 -0.8 -3.8 -6.8 -7.2 -5.2 0.0 2.0 MT5.9 -0.7 -5.0 -7.6 -1.2 0.1 -2.8 -2.9 -2.5 4.9 NL2.7 -1.5 -2.4 -6.0 0.5 0.7 -0.9 -2.3 -1.8 3.2 AT2.0 -2.0 -1.8 -4.7 0.7 1.9 1.3 0.9 0.2 4.8 PL-4.1 -1.3 -11.4 1.4 -4.3 -1.0 -1.4 -5.1 -3.5 0.1 PT1.1 -3.1 -3.0 -4.0 -0.6 -1.8 -3.1 -1.8 -0.8 3.1 RO-4.9 -10.9 -3.2 -2.0 0.5 -1.0 2.7 -2.6 -5.6 -0.7 SI5.2 1.2 -1.1 -4.5 -0.6 1.2 0.3 -0.6 -2.0 2.0 SK27.1 11.0 3.4 -3.2 2.1 1.2 -1.2 -1.6 -2.0 2.5 FI5.0 -1.3 -2.8 -8.3 0.2 2.7 2.1 0.4 -2.6 3.0 SE-8.5 -3.3 3.2 10.3 5.1 -3.7 -8.3 -9.2 -5.5 -4.0 UK-19.9 -20.4 -7.8 6.0 3.4 10.1 10.7 0.2 -10.8 -13.0 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The MIP scoreboard indicator is the percentage change over three years of REER. (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFIN 
 
 
 
 
 
 
 
 
 
Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) 

48 

2009201020112012201320142015201620172018BE0.5 -2.6 0.6 -2.3 1.5 0.2 -3.4 2.9 1.5 2.4 BG4.0 -3.0 1.0 -2.1 0.1 -0.8 -3.6 -0.4 0.6 3.7 CZ-3.8 1.3 2.0 -2.8 -2.2 -5.2 -0.9 2.5 3.7 4.4 DK2.6 -4.4 -0.6 -2.9 1.0 0.8 -3.4 1.0 0.4 1.2 DE1.1 -5.3 -0.6 -3.3 2.2 0.8 -4.4 1.6 1.0 2.7 EE2.0 -3.8 1.1 -0.9 2.9 2.8 0.1 1.5 1.5 4.6 IE-1.5 -7.3 -1.0 -4.4 1.6 -0.8 -7.2 0.9 0.0 1.4 EL2.4 -1.2 0.6 -4.5 -0.6 -0.6 -4.5 1.1 0.5 1.9 ES0.4 -3.2 0.3 -2.4 1.9 -0.5 -4.5 0.7 1.4 2.0 FR0.4 -4.2 -0.6 -3.2 1.6 0.3 -4.7 1.3 0.5 2.6 HR1.4 -3.4 -2.7 -2.5 1.2 0.5 -1.5 1.1 0.5 2.6 IT1.3 -4.6 0.1 -1.9 1.9 0.3 -4.5 0.8 0.6 1.9 CY1.0 -4.1 0.2 -2.1 1.1 -0.8 -6.5 -0.2 0.4 1.6 LV5.1 -8.0 0.8 -1.5 -1.0 2.9 0.6 1.2 -0.1 3.7 LT6.8 -5.4 0.6 -2.0 0.9 3.0 0.3 1.9 0.3 4.1 LU0.9 -1.7 0.8 -1.6 1.6 0.5 -2.7 0.7 1.0 1.6 HU-5.3 1.6 -0.5 -1.9 -1.4 -3.6 -2.4 0.8 1.7 -0.5 MT0.7 -5.0 -0.7 -2.0 1.5 0.6 -4.8 1.4 1.0 2.4 NL1.9 -3.9 -0.3 -1.8 2.7 -0.1 -3.4 1.2 0.5 1.5 AT1.1 -3.4 0.5 -1.8 2.1 1.7 -2.4 1.7 1.0 2.1 PL-14.5 6.1 -2.3 -2.2 0.2 1.0 -2.6 -3.5 2.7 1.0 PT-0.6 -3.1 0.7 -1.6 0.3 -0.5 -2.9 1.6 0.6 0.9 RO-7.2 1.5 2.9 -6.1 4.0 1.4 -2.6 -1.3 -1.8 2.3 SI2.3 -2.6 -0.7 -1.2 1.4 1.1 -2.1 0.5 -0.3 1.9 SK6.8 -4.3 1.1 0.0 1.0 0.2 -2.4 0.5 -0.1 2.1 FI3.2 -5.8 0.0 -2.6 2.9 2.5 -3.2 1.2 -0.6 2.3 SE-7.1 6.7 4.1 -0.7 1.7 -4.6 -5.5 0.8 -0.8 -4.0 UK-9.3 1.1 0.5 4.4 -1.5 7.1 4.9 -10.9 -4.6 2.3 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The indicator is the one year percentage change of REER. (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFIN 
 
 
 
 
 
 
 
 
 
Table 3.6: Export market share - % of world exports (5 year % change) 

49 

2009201020112012201320142015201620172018BE-9.0 -11.6 -7.8 -15.5 -13.0 -13.3 -13.6 -5.0 1.1 -1.5 BG19.0 8.0 11.1 -1.0 -0.2 5.6 13.2 9.4 20.4 13.4 CZ27.2 11.7 7.4 -4.5 -9.8 -6.2 -2.2 2.4 8.6 11.9 DK-1.1 -10.6 -13.8 -17.7 -17.8 -15.9 -8.5 -2.9 1.1 -1.5 DE-6.8 -8.1 -9.4 -16.8 -13.0 -9.5 -3.2 2.0 5.7 3.1 EE16.3 9.5 24.4 6.9 9.9 20.5 7.3 -0.3 2.2 0.8 IE1.9 -6.3 -10.3 -18.3 -10.6 -14.6 37.8 58.6 71.3 77.4 EL-10.3 -15.7 -17.2 -26.3 -26.6 -19.4 -14.0 -9.8 -0.4 6.9 ES-8.8 -11.7 -8.3 -17.5 -10.3 -11.5 -3.3 2.9 9.9 4.6 FR-13.6 -17.2 -15.4 -18.3 -14.2 -14.5 -3.7 1.1 2.4 -0.2 HR-4.1 -10.6 -15.6 -25.8 -23.3 -19.4 -5.8 9.5 23.2 22.9 IT-18.0 -19.1 -19.2 -25.7 -20.4 -15.5 -9.7 -4.0 1.2 0.3 CY-9.1e-15.8e-11.4e-21.7e-12.0 -20.1 -4.8 8.0 18.6 16.6 LV52.6 21.7 26.5 7.9 5.9 12.0 13.5 10.2 8.2 8.6 LT30.8 16.5 26.0 27.0 11.9 19.4 6.5 -1.4 3.8 3.5 LU11.9 3.2 -3.8 -5.6 8.2 16.3 29.8 33.3 21.4 10.7 HU10.3 0.8 -4.3 -23.2 -22.9 -16.8 -9.3 -2.1 10.8 8.4 MT45.8 37.8 17.6 12.2 -0.6 -12.5 9.1 22.5 24.2 24.0 NL-5.4 -8.2 -8.4 -12.8 -11.3 -11.4 -6.7 -3.0 1.5 1.7 AT-6.1 -12.6 -12.5 -21.7 -18.4 -15.8 -9.2 -2.8 2.7 3.9 PL34.4 24.7 15.1 1.4 -0.3 4.7 9.2 17.7 28.0 25.8 PT-8.7 -7.6 -9.9 -17.3 -8.1 -7.3 0.9 5.2 14.3 9.4 RO69.4 53.3 49.9 12.3 13.8 20.1 20.5 23.2 36.5 23.7 SI9.9 -1.4 -5.6 -20.9 -18.2 -12.7 -4.6 3.7 18.1 20.4 SK9.5 3.8 -2.8 -10.3 -4.1 1.9 4.1 7.3 5.2 3.2 FI-13.4 -19.7 -23.5 -32.4 -32.5 -27.3 -23.1 -15.8 -4.9 -3.0 SE-15.9 -12.8 -12.2 -19.5 -17.2 -9.6 -9.3 -7.6 -4.6 -6.3 UK-19.8 -23.9 -25.9 -21.3 -11.6 -9.2 2.7 1.1 -1.2 -3.8 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.TheMIPindicatorisexpressedasthepercentagechangeoverfiveyears.Thetotalworldexport data are based on International Monetary Fund (IMF) data.Flags:e:Estimated. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat, and IMF 
 
 
 
 
 
 
 
 
 
 
 
Table 3.7: Export market share - % of world exports (1 year % change) 

50 

2009201020112012201320142015201620172018BE0.9 -6.9 -2.6 -6.3 1.6 0.4 -7.2 7.1 -0.3 -1.0 BG-4.7 -7.8 12.0 -4.8 6.6 0.8 -1.2 8.3 4.8 0.3 CZ0.8 -5.1 -0.3 -4.1 -1.4 4.7 -1.0 4.4 1.6 1.7 DK-1.8 -9.9 -4.3 -5.0 2.2 0.5 -2.0 1.6 -1.2 -0.4 DE-1.4 -6.6 -2.0 -4.6 1.1 2.5 -0.1 3.3 -1.1 -1.4 EE-8.1 2.8 15.0 -2.6 3.8 0.8 -8.5 6.9 -0.1 2.3 IE18.4 -12.9 -9.6 -6.0 2.0 13.0 40.6 4.0 1.6 5.6 EL-5.7 -13.0 -6.6 -4.8 0.7 3.6 -7.2 -2.1 5.1 8.0 ES2.3 -9.8 -0.6 -6.0 3.9 0.9 -1.4 5.8 0.4 -1.1 FR0.5 -10.5 -2.7 -4.5 2.5 0.2 0.9 2.2 -3.3 -0.1 HR-0.7 -11.3 -6.1 -8.9 1.9 4.4 3.6 9.1 2.5 1.6 IT-5.1 -8.7 -3.3 -5.3 0.3 0.7 -2.4 2.8 -0.1 -0.7 CY12.7 -14.1 -4.5 -7.5 2.9 2.4 2.4 8.2 1.6 1.1 LV-1.9 -5.0 6.9 3.8 2.4 3.7 -3.7 3.8 1.9 2.8 LT-11.7 2.4 12.2 4.3 5.7 -5.8 -8.6 4.0 9.8 5.4 LU2.5 -8.0 -1.5 5.5 10.4 10.2 2.6 1.1 -3.9 0.7 HU-3.4 -8.0 -4.2 -10.8 1.6 4.1 0.3 3.4 1.0 -0.5 MT16.9 -11.0 -4.3 -1.5 1.2 3.0 11.0 7.5 -0.2 1.1 NL0.4 -6.9 -3.6 -3.2 1.5 0.4 -2.0 0.4 1.3 1.7 AT-1.9 -10.5 -2.6 -6.3 1.8 1.3 -3.5 4.2 -0.9 3.0 PL0.1 -1.8 -1.6 -2.6 5.9 5.0 2.4 6.2 5.9 4.0 PT0.0 -9.3 -0.2 -5.0 6.8 0.9 -1.3 4.2 3.2 2.3 RO0.5 -0.5 6.0 -7.2 15.5 6.1 -0.2 8.5 2.9 4.7 SI-2.5 -10.0 -1.8 -7.5 2.7 4.0 -1.6 6.7 5.3 4.7 SK-7.4 -4.7 2.8 0.7 5.0 -1.7 -2.7 6.0 -1.3 3.1 FI-11.3 -11.9 -6.1 -7.7 -0.2 -4.6 -6.8 2.8 4.2 1.8 SE-8.7 -1.6 -0.2 -6.2 -1.6 -0.4 -1.2 1.7 -3.2 -3.4 UK0.2 -7.8 -2.1 -1.8 -0.5 2.9 4.3 -3.6 -4.0 -3.1 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.Theindicatorisexpressedasthepercentagechangeoveroneyear.Thetotalworldexportdata are based on International Monetary Fund (IMF) data.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat, and IMF 
 
 
 
 
 
 
 
 
 
 
 
Table 3.8: Nominal unit labour cost index, 2010=100 (3 year % change) 

51 

2009201020112012201320142015201620172018BE9.9 7.4 5.1 4.9 7.4 4.3 0.5 -0.9 0.8 3.7 BG35.2 30.2 17.9 12.2p15.3p17.6p14.5p8.6p13.5p18.3pCZ9.0 6.4 3.4 3.8 4.2 4.0 0.1 2.7 5.9 13.5 DK16.4 9.5 3.6 -0.2 1.5 2.3 2.2 2.1 2.4 4.0 DE9.2 8.2 5.6 2.5 6.1 7.4 5.9 4.9 4.9 5.6 EE38.5 12.4 -2.2 0.1 11.2 14.8 15.3 12.8 12.4 14.3 IE8.7 -4.8 -13.7b-9.9 -0.7 -3.7 -18.6 -17.7 -15.4 -2.8 EL15.8 14.0 6.8p-2.3p-10.0p-10.4p-9.7p-3.3p-1.0p1.4pES11.1 6.3 -1.4 -5.0 -5.1 -3.6 -1.1 -1.2 -0.5p0.7pFR8.0 7.4 5.4 4.1 4.6 4.4 2.3 1.7 1.5p2.4pHR15.8d12.0d6.8d-1.6d-4.6d-6.8d-6.1d-5.6d-3.9d-2.4dIT10.7 8.5 4.9 2.0 2.9 2.6 2.0 1.5 1.3 2.7 CY12.5 10.4 9.4 3.2 -0.7 -6.5 -10.8 -9.4 -4.1p-0.4pLV36.7 -2.0 -20.6 -6.5 8.0 16.0 17.2 16.7 15.2 14.7 LT13.0 0.5b-7.8 -4.2 6.1 8.7 11.8 15.0 16.3 16.5 LU17.6 16.0 8.8 5.9 7.6 7.1 2.4 1.2 4.0 7.9 HU12.1 6.2 3.8 7.7 7.5 6.2 1.1 5.4 9.1 12.4 MT11.2 9.2 11.1 8.6 9.8 2.8 -1.4 -1.1 1.2 3.2 NL11.3 7.7 5.3 2.6 4.8 3.7 -0.4 -0.3 -0.1p3.0pAT10.2 9.0 5.8 3.8 6.4 7.9 6.4 5.4 4.0 4.7 PL12.3 11.3b4.2 5.3 3.1 2.9 0.2 2.5 4.1 8.1pPT6.5 4.4 -0.5 -6.2 -3.8 -2.9 0.2 -0.5 2.8 5.3pRO24.6 36.9 2.2 6.8 -4.7 6.7 0.6 9.5 15.4 33.6pSI17.9 15.5 7.7 0.1 0.1 0.1 -0.1 1.3 3.7 6.1 SK11.1 9.0 5.4 -0.3 2.6 2.4 2.7 4.1 8.1 10.9 FI14.7 12.5 9.0 5.8 9.3 7.6 3.2 0.4 -3.5 -2.6 SE14.6 6.8 4.1 4.0 9.0 7.5 2.6 2.8 3.9 7.4 UK9.6 6.8 5.8 3.0 3.9 4.0 3.2 3.7 5.1 7.8 TheNominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofCompensationofemployees(currentprices)tothenumberofEmployees,andlabourproductivityistheratioofGrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2010)tototalEmployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconcept used in National accounts. The MIP Scoreboard indicator is the percentage change over three years. Input data are obtained from the official national accounts' country data, through ESA 2010 transmission programme.Flags:b:Break in series. d:Definition differs. p:Provisional. 1) HR d: employment data use national concept instead of domestic concept. 2) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.9: Nominal unit labour cost index, 2010=100 (1 year % change) 

52 

2009201020112012201320142015201620172018BE3.0 -0.7 2.8 2.8 1.7 -0.2 -1.0 0.3 1.5 1.8 BG10.0 5.0 2.0 4.7p8.0p4.0p1.9p2.4p8.7p6.3pCZ2.6 0.1 0.7 3.0 0.5 0.4 -0.8 3.1 3.6 6.3 DK4.7 -1.0 0.0 0.9 0.7 0.7 0.8 0.6 1.1 2.3 DE6.6 -1.2 0.3 3.4 2.3 1.5 2.0 1.3 1.5 2.7 EE1.9 -5.0 1.0 4.2 5.6 4.3 4.8 3.3 3.9 6.5 IE-4.0 -8.2 -2.1b0.2 1.2 -5.0 -15.3 2.2 -2.3 -2.6 EL7.1 1.0 -1.4p-2.0p-6.9p-1.8p-1.3p-0.3p0.6p1.1pES1.2 -0.9 -1.7 -2.5 -0.9 -0.2 0.0 -0.9 0.5p1.2pFR3.4 1.0 0.9 2.2 1.4 0.7 0.2 0.7 0.6p1.0pHR7.2d-0.2d-0.1d-1.3d-3.3d-2.4d-0.5d-2.7d-0.7d1.1dIT4.3 0.0 0.5 1.5 0.8 0.2 0.9 0.4 0.0 2.3 CY7.8 -0.6 2.2 1.6 -4.3 -3.8 -3.1 -2.9 1.9p0.6pLV-11.0 -8.7 -2.3 4.8 5.5 5.0 5.8 5.1 3.7 5.3 LT-1.7 -6.8b0.6 2.2 3.1 3.1 5.1 6.1 4.3 5.3 LU7.4 -1.0 2.3 4.6 0.5 1.8 0.1 -0.7 4.6 3.9 HU1.6 -0.2 2.3 5.5 -0.3 1.0 0.4 4.0 4.5 3.4 MT5.6 0.2 5.0 3.3 1.3 -1.7 -1.0 1.6 0.6 1.0 NL5.5 -1.3 1.2 2.8 0.8 0.1 -1.3 0.9 0.3p1.7pAT5.1 0.0 0.7 3.1 2.5 2.2 1.5 1.6 0.8 2.2 PL0.9 2.4b0.8 2.0 0.2 0.6 -0.6 2.5 2.2 3.3pPT2.8 -1.1 -2.1 -3.1 1.5 -1.2 -0.1 0.8 2.1 2.4pRO-1.7 11.7 -6.9 2.8 -0.3 4.2 -3.1 8.5 9.8 12.2pSI8.3 0.4 -1.0 0.7 0.4 -1.1 0.6 1.8 1.2 3.0 SK6.4 -1.8 0.9 0.6 1.1 0.7 0.9 2.5 4.5 3.5 FI8.3 -1.7 2.5 5.1 1.6 0.9 0.8 -1.2 -3.0 1.7 SE4.6 -2.8 2.4 4.5 1.9 1.0 -0.3 2.0 2.1 3.1 UK3.7 1.3 0.7 0.9 2.2 0.9 0.1 2.7 2.2 2.6 TheNominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofCompensationofemployees(currentprices)tothenumberofEmployees,andlabourproductivityistheratioofGrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2010)tototalEmployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconcept used in National accounts. The MIP Scoreboard indicator is the percentage change over one year. Input data are obtained from the official national accounts' country data, through ESA 2010 transmission programme.Flags:b:Break in series. d:Definition differs. p:Provisional. 1) HR d: employment data use national concept instead of domestic concept. 2) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.10: House price index (2015=100), deflated (1 year % change) 

53 

2009201020112012201320142015201620172018BE0.3 1.2 1.1 0.2 0.1 -1.3 0.8p1.2p1.6p1.0 BG-21.0e-12.4e-8.6 -5.2 0.4 1.4 1.2b6.6 5.3 4.5 CZ-4.7 -2.2 -1.7 -3.6 -0.8 1.8 3.8p6.7p9.1p6.1pDK-13.0 0.3 -4.0 -4.9 3.1 3.2 6.5 4.7 3.3 3.5 DE0.7 -0.5 1.6 2.1 1.6 2.2 4.2 6.8 4.6 5.1 EE-36.3 1.8 3.1 3.1 7.3 12.9 7.3 4.0 1.8 2.1 IE-13.7 -11.6 -17.9 -14.6 -0.1 15.5 10.8 7.1 9.8 8.3 EL-4.7e-8.0e-7.5e-12.1e-9.1e-5.1e-3.4e-1.7e-1.6e1.3eES-5.7 -3.7 -9.7 -16.5 -10.0 0.2 3.7 4.4 4.5 5.3 FR-4.7 3.6 4.0 -2.0 -2.6 -1.7 -1.8 0.8 2.2 1.5 HR-7.9 -7.6 -1.9 -4.7 -5.7 -1.3 -2.6 2.0 2.9 4.6 IT0.0e-0.9be-1.5 -5.0 -7.5 -4.9 -4.0 0.2 -2.3 -1.6 CY-6.9 -8.1 -4.4 -5.5 -3.8 -1.1 0.5b1.8 1.3 0.2 LV-34.9 -8.7 4.0 -0.2 6.7 4.3 -2.4 7.3 5.6 6.6 LT-32.9 -8.6 2.2 -3.3 0.3 6.4 4.7 4.4 5.3 4.6 LU-0.6 4.2 0.6 2.1 3.3 3.9 5.3 5.7 3.7 4.9 HU-9.2 -5.9 -7.0 -9.5 -4.4 3.0 13.2 13.2 9.3 10.9 MT-6.1 -1.0 -3.5 0.4 -1.4 2.1 4.0 4.8 4.1 5.1pNL-3.0 -3.3 -4.0 -7.9 -7.9 -0.1 3.4 4.4 6.1 7.4 AT3.6e4.3be3.0 4.8 3.0 1.4 3.4 7.0 3.2 2.5 PL-5.4e-6.0e-4.6 -6.6 -4.8 1.2 2.6 2.3 1.8 4.9 PT1.0 -1.0 -6.5 -8.7 -2.7 4.0 2.1 6.1 7.5 8.9 RO-26.5e-12.7 -15.6 -9.1 -2.8 -3.1 1.8 5.2 3.2 1.8 SI-10.2 -1.3 0.9 -8.4 -7.2 -6.2 1.4 3.9 6.2 7.4 SK-12.7 -4.9 -5.2 -6.0 -0.4 1.5 5.5 7.0 4.4 5.0 FI-0.5 4.8 -0.1 -0.3 -1.3 -1.5 -0.2 0.1 0.9 -0.2 SE1.1 6.5 1.2 0.7 4.5 8.5 11.9 7.3 4.8 -3.0 UK-9.5 4.0 -5.0 -1.5 0.7 6.4 6.0 5.5 3.1 0.7 Thedeflatedhousepriceindex(HPI),orrealhousepriceindex,istheratiobetweenHPIandthenationalaccountsdeflatorforprivatefinalconsumptionexpenditure(householdsandnon-profitinstitutionsservinghouseholds(NPISHs).TheindicatormeasuresinflationinthehousemarketrelativetoinflationinthefinalconsumptionexpenditureofhouseholdsandNPISHs.Eurostat'sHPIcapturespricechangesofallresidentialpropertiespurchasedby households (flats, detached houses, terraced houses, etc.), both new and existing, independently of their final use and their previous owners. Only market prices are considered, self-build dwellings are therefore excluded. The land component is included. The MIP Scoreboard indicator is the one year percentage change of the deflated HPI. The indicator is based on Price statistics and National accounts data.Flags:b:Break in series. e:Estimated. p:Provisional. 1) e = NSI estimates for BG, PL and RO; e = source NCB for EL, IT and AT; b = break in time series due to full implementation of harmonised EU methodology for BG and CY(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.11: Private sector credit flow, consolidated (% of GDP) 

54 

2009201020112012201320142015201620172018BE5.4 -0.7 22.2 14.7 7.9 -2.0 12.1 23.8 0.1 0.8 BG1.8 -0.3 3.5 2.6 2.6 2.3 -3.5 3.0 4.1 3.9 CZ0.5 2.6 2.1 2.9 4.4 1.7 0.3 4.3 4.2 5.3 DK-1.9 -2.9 4.4 7.9 -3.0 -0.3 2.9 2.8 0.1 2.4 DE-1.1 0.0 2.0 1.4 2.0 -0.3 2.9 3.7 4.5 6.6 EE-5.4 -3.2 -0.8 7.6 4.8 5.6 2.7 6.2 4.8 3.7 IE-4.5 2.2 16.5 -0.5 -1.4 2.6 -2.3 -15.7 0.2 -7.8 EL2.2 2.4 -6.5p-4.7p-4.0p-3.0p-3.0p-2.1p-1.0p-1.1pES-1.2 0.9 -4.2 -11.2 -10.1 -6.5 -2.7 -0.7 0.7p0.4pFR3.3 4.6 6.4 4.2 2.1 3.2 4.6 6.5 6.8p7.9pHR2.5 4.7 -2.5 -2.9 -0.6 -0.1 -1.5 -0.2 1.5 2.3pIT0.8 5.0 3.1 -0.9 -2.9 -0.3 -1.4 0.1 1.3 1.6 CY10.7 20.5 17.1 0.8 -12.0 -0.7 4.4 12.2 6.7 8.4pLV-7.6 -9.1 -2.4 -5.4 -0.6 -4.4 -0.5 2.3 2.4 -0.2 LT-9.4 -5.9b-1.8 0.3 -0.3 0.2 2.6 4.3 4.5 4.3 LU7.4 -22.5 21.4 25.9 27.8 28.7 23.6 -9.6 27.4 -0.5 HU5.9 -4.2 -4.4 -6.0 -0.9 -0.2 -2.5 -3.1 0.7 4.3 MT15.2 7.7 6.8 0.1 2.3 7.4 8.8 15.3 5.5 7.5 NL9.7 2.8 8.2 6.1 9.7 4.3 0.0 3.9 3.7 4.5pAT1.3 0.3 3.0 1.2 1.0 0.9 2.1 3.4 3.6 3.9 PL4.4 4.2 6.6 4.8 3.3 4.6 3.5 5.1 2.9 3.4 PT5.3 5.3 -0.9 -3.9 -1.6 -5.7 -1.9 -2.1 2.0 -0.1pRO-1.6 0.9 2.8 0.3 -1.4 -2.3 0.2 0.6 1.7 1.9pSI3.0 2.0 0.5 -2.8 -3.7 -4.7 -5.0 -0.8 0.9 1.3 SK3.0 2.9 2.9 1.9b5.0 5.0 5.1 9.2 9.6 2.0 FI0.7 7.1 5.3 7.1 2.8 1.7 6.8 1.5 7.4 1.6 SE5.9 5.3 7.0 2.4 4.6 4.6 7.5 8.1 13.3 9.0 UK-3.9 -0.8 1.6 1.7 6.9 6.7 3.3 11.4 8.1 5.3 TheprivatesectorcreditflowrepresentsthenetamountofliabilitiesinwhichthesectorsNon-Financialcorporations(S.11)andHouseholdsandNon-Profitinstitutionsservinghouseholds(S.14_S.15)haveincurredalongtheyear.TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.datadonottakeintoaccounttransactionswithinthesamesectorandexpressedin%ofGDP.The indicator is based on National accounts data. Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme. Flags:b:Break in series. p:Provisional. 1) 2016: the decline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies. 2) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.12: Private sector debt, consolidated (% of GDP) 

55 

2009201020112012201320142015201620172018BE173.7 168.7 180.5 191.0 163.0 162.2 176.1 194.8 185.0 178.5 BG140.4 137.3 129.1 128.3 130.6 125.6 109.3 104.5 99.0 95.0 CZ65.9 67.9 68.3 70.7 73.7 71.5 68.1 68.7 67.3 70.7 DK232.2 220.6 221.0 224.0 216.1 214.0 211.4 209.5 201.7 199.4 DE113.6 106.4 102.4 101.9 103.0 98.4 97.9 98.3 100.1 102.4 EE145.8 136.7 118.9 117.2 115.2 115.4 112.8 112.4 107.6 101.5 IE256.1 257.0 274.5 279.1 267.5 278.4 305.1 284.4 250.5 223.2 EL116.5 128.1 130.2p132.6p132.3p130.8p128.0p125.1p118.1p115.3pES204.2 203.2 198.2 188.5 178.1 168.2 155.8 147.5 139.7p133.5pFR130.6 132.0 135.3 138.3 137.4 141.5 142.8 143.7 145.5p148.9pHR118.9 123.6 121.0 118.4 117.2 117.2 111.9 104.1 97.8 94.0pIT122.2 122.8 121.8 124.2 121.2 118.9 115.1 111.7 108.8 107.0 CY301.5 309.5 319.8 326.0 341.2 352.8 347.8 329.5 304.0 282.6pLV137.4 134.0 115.2 96.8 91.0 82.2 80.4 80.5 76.9 70.3 LT83.4 74.8b68.8 61.1 56.7 54.2 55.3 56.5 56.1 56.4 LU332.2 284.2 284.3 303.7 313.3 324.9 335.8 309.0 322.9 306.5 HU115.9 114.4 113.6 101.1 94.6 90.7 83.2 76.6 70.0 69.3 MT174.5 169.9 168.5 162.4 153.0 143.9 134.8 136.4 132.3 129.8 NL245.6 244.4 247.2 252.1 257.7 267.2 262.8 259.3 249.1 241.6pAT131.9 132.3 129.4 128.2 127.1 124.8 124.0 123.5 121.8 121.0 PL67.1 69.7 73.9 73.4 75.4 78.1 78.9 81.6 76.5 76.1 PT204.2 201.8 204.2 210.5 202.1 190.5 179.5 169.3 161.9 154.3pRO69.2 74.7 73.7 72.1 66.8 62.1 58.0 53.7 50.9 47.8pSI113.5 115.2 112.9 112.2 107.2 97.9 87.4 81.1 76.3 72.8 SK68.4 66.0 69.5 71.1b75.2 79.0 80.6 88.6 94.5 90.9 FI140.5 146.2 144.6 147.7 147.0 148.8 151.5 148.0 145.3 142.1 SE199.2 186.7 189.1 191.0 194.3 193.3 191.5 192.0 197.9 200.0 UK189.7 182.5 176.8 176.5 170.8 164.5 163.0 167.8 169.7 169.1 TheprivatesectordebtisthestockofliabilitiesheldbythesectorsNon-Financialcorporations(S.11)andHouseholdsandNon-Profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.donottakingintoaccounttransactionswithinthesamesectorandexpressedin%ofGDP.TheindicatorisbasedonNationalaccountsdata.Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme.Flags:b:Break in series. p:Provisional. 1)2015:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets;2016:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivitiesoflargemultinational companies. 2) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.13: General government gross debt (% of GDP) 

56 

2009201020112012201320142015201620172018BE100.2 100.3 103.5 104.8 105.5 107.0 105.2 104.9 101.8 100.0 BG13.7 15.4 15.2 16.7 17.1 27.1 26.0 29.3 25.3 22.3 CZ33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 34.7 32.6 DK40.2 42.6 46.1 44.9 44.0 44.3 39.8 37.2 35.5 34.2 DE73.0 82.4 79.8 81.1 78.7 75.7 72.1 69.2 65.3 61.9 EE7.2 6.6 6.1 9.8 10.2 10.6 10.0 10.2 9.3 8.4 IE61.5 86.0 111.1 119.9 119.9 104.4 76.7 73.9 67.8 63.6 EL126.7 146.2 172.1 159.6 177.4 178.9 175.9 178.5 176.2 181.2 ES53.3 60.5 69.9 86.3 95.8 100.7 99.3 99.2 98.6 97.6 FR83.0 85.3 87.8 90.6 93.4 94.9 95.6 98.0 98.4 98.4 HR48.7 57.8 64.4 70.1 81.2 84.7 84.4 81.0 78.0 74.8 IT116.6 119.2 119.7 126.5 132.4 135.4 135.3 134.8 134.1 134.8 CY54.3 56.4 65.9 80.3 104.0 109.2 107.5 103.4 93.9 100.6 LV36.2 47.3 43.1 41.6 39.4 40.9 36.7 40.2 38.6 36.4 LT28.0 36.3 37.2 39.8 38.7 40.6 42.7 39.9 39.3 34.1 LU15.7 19.8 18.7 22.0 23.7 22.7 22.0 20.1 22.3 21.0 HU78.2 80.6 80.8 78.5 77.3 76.8 76.1 75.5 72.9 70.2 MT67.6 67.5 70.2 67.7 68.4 63.4 57.8 55.5 50.3 45.8 NL56.8 59.2 61.7 66.2 67.7 67.8 64.6 61.9 56.9 52.4 AT79.9 82.7 82.4 81.9 81.3 84.0 84.9 82.9 78.3 74.0 PL49.4 53.1 54.1 53.7 55.7 50.4 51.3 54.2 50.6 48.9 PT87.8 100.2 114.4 129.0 131.4 132.9 131.2 131.5 126.0 122.2 RO21.8 29.6 34.0 37.0 37.6 39.2 37.8 37.3 35.1 35.0 SI34.5 38.3 46.5 53.6 70.0 80.3 82.6 78.7 74.1 70.4 SK36.4 41.0 43.5 51.8 54.7 53.5 51.9 52.0 51.3 49.4 FI41.5 46.9 48.3 53.6 56.2 59.8 63.0 62.6 60.9 59.0 SE40.9 38.2 37.3 37.7 40.5 45.2 43.9 42.3 40.7 38.8 UK63.3 74.6 80.1 83.2 84.2 86.2 86.9 86.8 86.2 85.9 Debtmeanstotalgrossdebtatnominalvalueoutstandingattheendoftheyearandconsolidatedbetweenandwithinthegeneralgovernment(asdefinedinthecurrentProtocol12,annexedtothe2012consolidatedversionoftheTreatyontheFunctioningoftheEuropeanUnion).ThisdefinitionissupplementedbyCouncilRegulation(EC)No479/2009,asamendedbytheCommissionRegulation(EU)No220/2014.ThestockofgovernmentdebtintheExcessiveDeficitProcedure(EDPdebt)isequaltothesumofliabilities,attheendofyear,ofallunitsclassifiedwithinthegeneralgovernment(S.13)intheinstruments:currencyanddeposits(F.2),debtsecurities(F.3)andloans (F.4). The MIP indicator is expressed in % of GDP. Data source from Government finance statistics.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.14: Unemployment rate (3 year average) 

57 

2009201020112012201320142015201620172018BE7.5 7.7 7.8 7.7 7.7 8.2 8.5 8.3 7.8b7.0bBG6.4 7.6d9.5d11.3d12.2 12.2 11.2 9.4 7.7 6.3 CZ5.5 6.1 6.9 7.0 6.9 6.7 6.1 5.1 4.0 3.0 DK4.6 5.9 7.3 7.8 7.7 7.4 6.9 6.4 6.0 5.6 DE7.8 7.3 6.8 6.1 5.5 5.2 4.9 4.6 4.2 3.8 EE7.9d11.9d14.2 13.0 10.3 8.7 7.4 6.8 6.3 6.0 IE8.1 11.3 14.2 15.2 14.9 13.7 11.9 10.1 8.4 7.0 EL8.6 10.0 13.4 18.4 23.3 26.2 26.3 25.0 23.3 21.5 ES12.5 16.4 19.7 22.0 24.1 25.1 24.2 22.1 19.6 17.4 FR8.2 8.6 9.2 9.4 9.8 10.1 10.3 10.3 10.0 9.5 HR9.3 9.9 11.6 13.8 15.6 16.8 16.9 15.6 13.5 10.9 IT6.8 7.6 8.2 9.2 10.4 11.8 12.2 12.1 11.6 11.2 CY4.3 5.1 6.5 8.7 11.9 14.6 15.7 14.7 13.0 10.8 LV10.4 14.9 17.7 16.9 14.4 12.6 10.9 10.1 9.4 8.6 LT8.0 12.5 15.7 15.5 13.5 12.0 10.5 9.2 8.0 7.1 LU4.7 4.9 4.8 4.8 5.3 5.7 6.1 6.3 6.1 5.8 HU8.4d9.7d10.7 11.1 10.7 9.6 8.2 6.5 5.4 4.3 MT6.5 6.6 6.7 6.5 6.2 6.0 5.7 5.3 4.7 4.1 NL4.1 4.4 4.8 5.3 6.0 6.8 7.2 6.8 5.9 4.9 AT4.8 4.7 4.9 4.8 5.0 5.3 5.6 5.8 5.7 5.5 PL8.3d8.3d9.2d9.8 10.0 9.8 8.9 7.6 6.2 5.0 PT9.5 10.5 11.9 13.6 15.0 15.4 14.4 12.6 10.9 9.1 RO6.2 6.4 6.9 7.0 7.0 6.9 6.9 6.5 5.9 5.0 SI5.1 5.9 7.1 8.1 9.1 9.6 9.6 8.9 7.9 6.6 SK11.0 12.1 13.4d14.1d14.0d13.8 13.0 11.5 9.8 8.1 FI7.2 7.7 8.1 8.0 7.9 8.2 8.8 9.0 8.9 8.3 SE6.9 7.7 8.2 8.1 7.9 8.0 7.8 7.4 7.0 6.6 UK6.2 7.0 7.8 7.9 7.8 7.2 6.3 5.4 4.8 4.4 Theunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed),basedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethree-yearbackwardmovingaverage. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1) 2017, 2018 BE: revision in the survey methodology.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.15: Unemployment rate (%) 

58 

2009201020112012201320142015201620172018BE7.9 8.3 7.2 7.6 8.4 8.5 8.5 7.8 7.1b6.0 BG6.8 10.3d11.3 12.3 13.0 11.4 9.2 7.6 6.2 5.2 CZ6.7 7.3 6.7 7.0 7.0 6.1 5.1 4.0 2.9 2.2 DK6.4 7.7 7.8 7.8 7.4 6.9 6.3 6.0 5.8 5.1 DE7.6 7.0 5.8 5.4 5.2 5.0 4.6 4.1 3.8 3.4 EE13.5 16.7 12.3 10.0 8.6 7.4 6.2 6.8 5.8 5.4 IE12.6 14.6 15.4 15.5 13.8 11.9 10.0 8.4 6.7 5.8 EL9.6 12.7 17.9 24.5 27.5 26.5 24.9 23.6 21.5 19.3 ES17.9 19.9 21.4 24.8 26.1 24.5 22.1 19.6 17.2 15.3 FR9.1 9.3 9.2 9.8 10.3 10.3 10.4 10.1 9.4 9.1 HR9.3 11.8 13.7 15.8 17.4 17.2 16.1 13.4 11.0 8.4 IT7.7 8.4 8.4 10.7 12.1 12.7 11.9 11.7 11.2 10.6 CY5.4 6.3 7.9 11.9 15.9 16.1 15.0 13.0 11.1 8.4 LV17.5 19.5 16.2 15.0 11.9 10.8 9.9 9.6 8.7 7.4 LT13.8 17.8 15.4 13.4 11.8 10.7 9.1 7.9 7.1 6.2 LU5.1 4.6 4.8 5.1 5.9 6.0 6.5 6.3 5.6 5.5 HU10.0 11.2 11.0 11.0 10.2 7.7 6.8 5.1 4.2 3.7 MT6.9 6.8 6.4 6.2 6.1 5.7 5.4 4.7 4.0 3.7 NL4.4 5.0 5.0 5.8 7.3 7.4 6.9 6.0 4.9 3.8 AT5.3 4.8 4.6 4.9 5.4 5.6 5.7 6.0 5.5 4.9 PL8.1d9.7 9.7 10.1 10.3 9.0 7.5 6.2 4.9 3.9 PT10.7 12.0 12.9 15.8 16.4 14.1 12.6 11.2 9.0 7.0 RO6.5 7.0 7.2 6.8 7.1 6.8 6.8 5.9 4.9 4.2 SI5.9 7.3 8.2 8.9 10.1 9.7 9.0 8.0 6.6 5.1 SK12.1 14.5 13.7d14.0 14.2 13.2 11.5 9.7 8.1 6.5 FI8.2 8.4 7.8 7.7 8.2 8.7 9.4 8.8 8.6 7.4 SE8.3 8.6 7.8 8.0 8.0 7.9 7.4 6.9 6.7 6.3 UK7.6 7.8 8.1 7.9 7.5 6.1 5.3 4.8 4.3 4.0 Theunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed),basedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1) 2017 BE: revision in the survey methodology.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) 

59 

2009201020112012201320142015201620172018BE0.5 -1.2 5.4 -5.1 1.2 2.5 2.7 2.4 0.6 -2.9 BG3.8 4.3 4.3 11.7 1.1 7.9 9.5 9.3 7.1 6.8 CZ2.2 3.2 4.3 5.2 11.4 5.2 8.1 16.3 23.0 7.4 DK5.5 9.7 1.6 2.5 1.8 7.3 -0.9 5.1 4.8 -4.7 DE-6.3 -0.8 3.1 3.2 -6.4 4.6 2.6 5.2 4.0 2.0 EE-4.6 -8.6 -0.2 10.9 10.3 13.0 8.6 6.7 14.3 6.9 IE3.4 6.3 -2.3 -1.8 1.9 19.5 9.6 1.5 4.3 5.1 EL10.1 8.4 -3.7 -2.1 -17.7 -7.9 5.3 -10.4 -13.0 -5.0 ES2.8 -1.5 2.8 0.6 -9.9 -0.6 -2.0 2.5 3.4 -2.2 FR-0.7 3.5 6.9 1.4 0.5 5.6 2.2 4.6 4.6 1.6 HR4.0 4.1 1.9 0.9 2.8 0.6 2.0 3.5 3.9 4.6 IT5.1 4.2 5.1 7.2 -2.7 0.5 1.4 3.3 4.2 -0.1 CY24.2 4.2 9.6 12.2 -3.4 11.6 9.8 -0.2 -1.7 0.3 LV-9.2 0.5 -6.2 5.6 5.7 11.4 13.2 4.7 6.2 -3.0 LT-4.5 -0.1 2.0 -0.7 -1.2 16.7 7.3 15.8 13.9 8.2 LU6.8 13.1 10.9 15.1 10.3 37.8 17.5 5.2 0.4 -2.0 HU1.6 -0.2 6.2 -5.8 -1.3 8.7 0.4 19.5 -7.7 -9.2 MT5.2 14.3 10.4 8.6 0.0 5.9 3.6 3.9 6.5 2.3 NL7.1 5.4 10.3 6.0 -1.6 8.0 4.0 6.7 -0.1 -3.3pAT-2.1 -1.9 1.5 0.4 -3.2 -0.8 -0.1 -2.8 2.2 1.7 PL8.6 13.7 4.8 10.7 7.4 0.7 2.4 9.1 6.5 3.0 PT8.8 11.5 -4.5 -3.0 -5.4 -7.5 -1.6 -0.3 1.9 0.7 RO15.1 4.9 4.5 4.8 0.8 1.2 4.1 7.0 8.2 3.3 SI7.4 -3.4 -1.2 -0.7 -10.1 -0.1 -3.8 3.4 5.3 4.1 SK-5.0e2.3e0.6e1.1b1.4e9.4e10.4e8.6e17.4e8.9eFI7.5 20.0 28.8 -1.3 -11.6 9.3 1.4 3.9 -4.0 19.9 SE4.0 2.8 1.8 5.6 9.7 12.6 1.8 9.1 6.9 -2.9 UK-17.0 7.3 10.4 -3.5 -7.7 4.8 -8.5 11.7 -1.7 -0.6 Thetotalfinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofallliabilities(whichincludesCurrencyanddeposits(F.2),Debtsecurities(F.3),Loans(F.4),Equityandinvestmentfundshares(F.5),Insurance,pensionsandstandardisedguarantees(F.6),Financialderivativesandemployeestockoptions(F.7)andOtheraccountspayable(F.8)ofthefinancialcorporationssector(S.12).Dataarepresentedinnon-consolidatedterms,i.e.datatakeintoaccounttransactionswithinthesamesectorandexpressedasoneyearpercentagechange.TheindicatorisbasedonNationalaccountsdata.Definitionsregardingsectorsandinstruments are based on the ESA 2010 transmission programme.Flags:b:Break in series. e:Estimated. p:Provisional. 1) SK: derivatives in Total financial sector liabilities are estimated for the whole period 2009-2018.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) 

60 

2009201020112012201320142015201620172018BE2207408.7 2179911.0 2296785.2 2178691.8 2204713.3 2260066.2 2320968.3 2376040.0 2391287.9 2322489.3 BG110843.3 115644.6 120649.8 134824.1 136283.4 147053.6 161019.5 176072.2 188548.3 201295.6 CZ6290182.0 6493564.0 6770733.0 7124894.0 7939104.0 8348911.0 9024425.0 10497980.0 12910468.0 13862545.0 DK12912377.0 14166254.0 14396781.0 14763194.0 15027912.0 16127830.0 15986470.0 16795621.0 17599736.0 16766862.0 DE12808084.0 12702563.0 13091199.0 13510380.0 12651192.0 13230516.0 13579332.0 14283138.0 14855763.0 15150438.0 EE30603.8 27966.2 27900.6 30935.2 34133.0 38580.5 41915.5 44740.6 51131.3 54644.3 IE3471735.0 3691722.0 3607447.0 3542735.0 3611739.0 4317763.0 4733772.0 4805403.0 5009926.0 5265904.0 EL604972.5 655918.5 631687.4 618652.5 509415.7 468962.7 493982.9 442741.0 385177.4 366107.1 ES4935418.0 4860325.0 4997876.0 5026259.0 4531136.0 4505745.0 4417406.0 4525925.0 4680059.0 4575396.0 FR10987855.0 11376850.0 12167107.0 12341703.0 12402374.0 13091478.0 13376008.0 13995228.0 14639923.0 14875925.0 HR588768.9 613113.1 625062.4 630816.5 648226.7 651986.8 664902.2 688114.6 715126.5 747705.9 IT4976521.0 5184154.0 5449906.0 5844124.0 5687717.0 5716080.0 5793393.0 5982574.0 6236451.0 6227351.0 CY354595.9 369425.3 405041.8 454290.2 438728.4 489588.2 537601.8 536447.1 527323.5 528674.3 LV39423.0 39616.0 37154.0 39252.0 41500.0 46239.0 52362.0 54834.0 58253.0 56513.0 LT35841.6 35802.5 36506.3 36245.3 35822.7 41793.1 44839.7 51940.1 59139.4 63971.5 LU5656422.7 6397261.0 7096252.6 8168959.5 9012052.4 12421369.9 14600430.3 15360402.5 15429521.1 15116486.8 HU91101843.0 90896026.0 96519364.0 90886231.0 89746712.0 97534682.0 97941707.0 117019564.0 108012428.0 98066453.0 MT171637.9 196162.1 216579.1 235103.9 235179.5 249132.1 258190.5 268276.6 285839.9 292482.6 NL7445757.0 7846047.0 8655748.0 9172174.0 9026088.0 9751166.0 10142778.0 10818145.0 10811215.0 10454748.0pAT1542013.8 1512656.1 1534950.2 1541091.1 1491604.4 1479310.2 1477350.5 1436448.7 1467664.9 1491951.7 PL1884796.0 2142309.0 2245082.0 2486260.0 2670712.0 2689393.0 2754264.0 3003984.0 3199788.0 3297199.0 PT890227.4 992790.0 947946.2 919936.2 870664.7 805019.2 791803.8 789276.3 804452.6 810229.5 RO547464.3 574460.0 600205.0 629203.6 634054.3 641823.0 667914.3 714758.4 773557.9 799456.8 SI78532.0 75862.0 74916.0 74385.0 66869.0 66769.0 64263.0 66455.0 69978.0 72823.0 SK92792.4e94883.5e95434.2e96488.1b97880.9e107034.9e118179.9e128315.0e150602.5e163980.5eFI563031.0 675393.0 870094.0 858401.0 758866.0 829133.0 840588.0 873355.0 838561.0 1005668.0 SE16676068.0 17146680.0 17455801.0 18428202.0 20218739.0 22762231.0 23168087.0 25278178.0 27028161.0 26250831.0 UK19617738.0 21058517.0 23256275.0 22434413.0 20712536.0 21714699.0 19860413.0 22192967.0 21822784.0 21688567.0 Thetotalfinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofallliabilities(whichincludesCurrencyanddeposits(F.2),Debtsecurities(F.3),Loans(F.4),Equityandinvestmentfundshares(F.5),Insurance,pensionsandstandardisedguarantees(F.6),Financialderivativesandemployeestockoptions(F.7),andOtheraccountspayable(F.8)ofthefinancialcorporationssector(S.12).Dataarepresentedinnon-consolidatedterms,i.e.datatakeintoaccounttransactionswithinthesamesectorandexpressedinmillionsofnationalcurrency.TheindicatorisbasedonNationalaccountsdata.Definitionsregardingsectorsandinstrumentsare based on the ESA 2010 transmission programme.Flags:b:Break in series. e:Estimated. p:Provisional. 1) SK: derivatives in Total financial sector liabilities are estimated for the whole period 2009-2018.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in pp)   

61 

2009201020112012201320142015201620172018BE0.4 0.6 -0.4 0.0 -0.2 1.0 0.7 0.1 0.3b1.0 BG2.7 0.4b-1.9b-0.1 1.7b3.1b2.2 0.3 2.3 2.2 CZ-0.2 0.3 0.8b1.5 2.7 3.0b2.4 2.1 2.4 2.6 DK-0.4 -0.7 -1.4 -1.6 -1.3 -1.2 -0.1 1.9b0.7b0.9 DE1.4 1.1b1.4b0.9 0.9b0.4b0.4 0.3 0.5 1.0 EE1.2 0.7 0.5 0.8 1.2 0.5 1.9 2.4 3.6 2.4 IE-1.9 -4.0b-3.6 -1.9 0.2 0.6 1.0 0.9 0.9 0.8 EL0.7b1.3 0.6 0.1b-0.3 0.1 0.3 0.7 0.9 0.4 ES2.0 1.7 1.2 1.2 0.8 0.3 0.0 -0.1 -0.3 -0.6 FR0.6e0.5e0.3e0.5e0.9e1.3e1.0e0.7e0.5 0.6 HR2.6e-0.6 -1.7 -1.7 -1.4 2.0 3.0 1.9 0.3 -0.6 IT-0.3 -0.4 -0.8 1.2 1.4 1.8 0.5 1.5 1.5 1.6 CY0.0b-0.3 -0.1 0.5b0.0 0.8 0.4 -0.2 -0.4 1.1 LV2.5 0.4 -1.4 0.9 1.0 1.8 1.3 2.3 2.4 2.0 LT2.0 2.3 3.0 2.2 2.2 2.3 2.3 3.1 2.2 3.2 LU2.0b1.3b1.1 0.7b1.7 2.9 1.5b0.1 -0.6 0.2bHU-0.8 0.3 1.2 2.5 2.8 4.6 4.9 5.4 4.2 3.3 MT1.5 1.6 2.7 4.5 5.9 6.0 4.9 4.3 4.4 5.9 NL2.7 1.2 0.3 0.9 1.5 0.9 0.6 0.3 0.7 0.7 AT1.9 0.9b0.7 0.8 1.1 0.8 0.4 0.7 1.0 1.3 PL1.3 2.1b1.9 1.8 1.7b2.2 1.6 1.8 1.7 2.0 PT-0.2 -0.2 -0.3b0.0 -0.7 -0.4b0.0 0.7 1.5 1.7 RO-0.5 1.9b1.2 1.7 0.0b1.6 1.3 0.7 1.6 1.7 SI0.9 0.2 -1.5 -1.4 -1.0 0.6 1.4 1.1 3.3 3.2 SK-0.2 0.4 -0.1b1.0 1.2 1.6b1.5 2.0 1.8 1.5 FI-0.2 -1.1 -1.1 0.2 0.7 0.5 0.6 0.7 1.3 2.1 SE0.1 0.0 0.6 1.4 2.0 1.6 1.4 1.0 1.0 1.2 UK0.0 -0.1b-0.3b0.4 1.0 1.2 0.8 0.9 0.9 1.0 Theactivityrateisthepercentageofeconomicallyactivepopulationaged15-64onthetotalpopulationofthesameage.AccordingtothedefinitionsoftheInternationalLabourOrganisation(ILO)forthepurposesofthelabourmarketstatisticspeopleareclassifiedasemployed,unemployedandeconomicallyinactive.Theeconomicallyactivepopulation(alsocalledlabourforce)isthesumofemployedandunemployedpersons.Inactivepersonsarethosewho,duringthereferenceweek,wereneitheremployednorunemployed.TheMIPScoreboardindicatoristhethreeyearschangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS).The survey covers the resident population in private households.Flags:b:Break in series. e:Estimated. 1) 2017 BE: revision in the survey methodology; DK: Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016). 2) 2015 LU: change in sampling strategy and data collection technique. 3) 2010 IE: change in the sampling design. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.19: Activity rate - % of total population aged 15-64 

62 

2009201020112012201320142015201620172018BE66.9 67.7 66.7 66.9 67.5 67.7 67.6 67.6 68.0b68.6 BG67.2 66.7b65.9b67.1 68.4 69.0 69.3 68.7 71.3 71.5 CZ70.1 70.2 70.5b71.6 72.9 73.5 74.0 75.0 75.9 76.6 DK80.2 79.4 79.3 78.6 78.1 78.1 78.5 80.0b78.8b79.4 DE76.3 76.7b77.3b77.2 77.6 77.7 77.6 77.9 78.2 78.6 EE74.0 73.9 74.7 74.8 75.1 75.2 76.7 77.5 78.8 79.1 IE73.0 71.6 71.2 71.1 71.8 71.8 72.1 72.7 72.7 72.9 EL67.4b67.8 67.3 67.5 67.5 67.4 67.8 68.2 68.3 68.2 ES73.1 73.5 73.9 74.3 74.3 74.2 74.3 74.2 73.9 73.7 FR69.8e69.8e69.7e70.3e70.7e71.0 71.3 71.4 71.5 71.9 HR65.6 65.1 64.1 63.9 63.7 66.1 66.9 65.6 66.4 66.3 IT62.3 62.0 62.1 63.5 63.4 63.9 64.0 64.9 65.4 65.6 CY73.0b73.6 73.5 73.5 73.6 74.3 73.9 73.4 73.9 75.0 LV73.5 73.0 72.8 74.4 74.0 74.6 75.7 76.3 77.0 77.7 LT69.6 70.2 71.4 71.8 72.4 73.7 74.1 75.5 75.9 77.3 LU68.7b68.2 67.9 69.4 69.9 70.8 70.9b70.0 70.2 71.1 HU61.2 61.9 62.4 63.7 64.7 67.0 68.6 70.1 71.2 71.9 MT59.4 60.4 61.8 63.9 66.3 67.8 68.8 70.6 72.2 74.7 NL78.1 77.9 78.1 79.0 79.4 79.0 79.6 79.7 79.7 80.3 AT74.3 74.4 74.6 75.1 75.5 75.4 75.5 76.2 76.4 76.8 PL64.7 65.3b65.7 66.5 67.0 67.9 68.1 68.8 69.6 70.1 PT73.4 73.7 73.6b73.4 73.0 73.2 73.4 73.7 74.7 75.1 RO63.1 64.9b64.1 64.8 64.9 65.7 66.1 65.6 67.3 67.8 SI71.8 71.5 70.3 70.4 70.5 70.9 71.8 71.6 74.2 75.0 SK68.4 68.7 68.7b69.4 69.9 70.3 70.9 71.9 72.1 72.4 FI75.0 74.5 74.9 75.2 75.2 75.4 75.8 75.9 76.7 77.9 SE78.9 79.1 79.9 80.3 81.1 81.5 81.7 82.1 82.5 82.9 UK75.7 75.4 75.5 76.1 76.4 76.7 76.9 77.3 77.6 77.9 Flags:b:Break in series. e:Estimated. 1) 2017 BE: revision in the survey methodology; DK: Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016). 2) 2015 LU: change in sampling strategy and data collection technique.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatTheactivityrateisthepercentageofeconomicallyactivepopulationaged15-64onthetotalpopulationofthesameage.AccordingtothedefinitionsoftheInternationalLabourOrganisation(ILO)forthepurposesofthelabourmarketstatisticspeopleareclassifiedasemployed,unemployedandeconomicallyinactive.Theeconomicallyactivepopulation(alsocalledlabourforce)isthesumofemployedandunemployedpersons.Inactivepersonsarethose who, during the reference week, were neither employed nor unemployed. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households. 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in pp) 

63 

2009201020112012201320142015201620172018BE-0.7 0.2 0.2 -0.1 -0.1 0.8 1.0 0.1 -0.8b-1.5 BG-2.0 0.6b3.4b3.8 2.7 0.6 -1.2 -2.9 -3.5 -2.6 CZ-1.9 0.2 0.5b1.0 0.0 0.0 -0.6 -1.3 -1.7 -1.7 DK-0.2 0.9 1.3 1.5 0.3 -0.1 -0.4 -0.4b-0.4b-0.6 DE-2.2 -1.6b-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 -0.6 -0.6 EE0.8 5.3 5.4 1.8 -3.8 -3.8 -3.1 -1.7 -1.4 -1.1 IE2.1 5.5 7.1 5.7 1.1 -2.2 -3.9 -3.8 -3.6 -3.2 EL-1.0b1.5 5.1 10.6 12.8 10.7 3.7 -1.5 -3.9 -4.6 ES2.5 5.6 6.9 6.7 5.7 4.0 0.4 -3.5 -5.2 -5.0 FR-0.5e0.6e1.1e0.8e0.5e0.5 0.5 0.2 -0.3 -0.8 HR-1.6 0.6 3.1 5.1 4.4 1.7 0.0 -4.4 -5.5 -6.8 IT0.1 1.1 1.3 2.2 2.9 3.4 1.3 -0.2 -1.2 -0.7 CY-0.3b0.6 1.1 3.0 4.8 6.1 3.2 -0.3 -3.2 -4.1 LV2.1 7.2 6.9 3.3 -3.1 -4.2 -3.3 -1.7 -1.3 -1.4 LT0.7 6.0 6.7 3.3 -2.3 -3.2 -2.7 -2.1 -2.1 -1.9 LU-0.2b0.1 -0.2 0.4 0.5 0.2 0.3b0.4 0.5 -0.5 HU0.8 2.0 1.6 0.8 -0.6 -1.5 -1.9 -2.5 -2.0 -1.7 MT0.2 0.4 0.4 0.1 -0.3 -0.3 -0.6 -0.9 -1.1 -1.3 NL-1.0 -0.2 0.4 0.8 1.2 1.3 1.1 0.0 -1.0 -1.6 AT-0.3 -0.1 0.2 0.0 0.1 0.3 0.5 0.6 0.3 -0.3 PL-5.3 -1.9b1.2 1.6 1.4 0.2 -1.1 -2.2 -2.3 -2.0 PT0.3 1.9 2.6b3.5 3.6 2.2 -0.5 -3.1 -3.9 -4.1 RO-1.9 -0.8b0.5 0.8 0.8 -0.1 0.0 -0.2 -0.8 -1.2 SI-1.1 1.0 1.7 2.5 2.0 1.7 0.4 -0.9 -2.2 -2.5 SK-3.7 0.9 2.6b2.9 0.8 0.1 -1.8 -4.2 -4.2 -3.6 FI-0.5 0.5 0.5 0.2 -0.3 0.2 0.7 0.6 0.2 -0.7 SE0.1 0.8 0.7 0.4 -0.2 -0.1 0.0 -0.1 -0.2 -0.3 UK0.7 1.2 1.3 0.8 0.2 -0.5 -1.1 -1.4 -1.1 -0.5 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealready found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags:b:Break in series. e:Estimated. 1) 2017 BE: revision in the survey methodology; DK: Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016). 2) 2015 LU: change in sampling strategy and data collection technique.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 3.21: Long-term unemployment rate - % of active population aged 15-74 

64 

2009201020112012201320142015201620172018BE3.5 4.0 3.5 3.4 3.9 4.3 4.4 4.0 3.5b2.9 BG3.0 4.7b6.3b6.8 7.4 6.9 5.6 4.5 3.4 3.0 CZ2.0 3.0 2.7b3.0 3.0 2.7 2.4 1.7 1.0 0.7 DK0.6 1.5 1.8 2.1 1.8 1.7 1.7 1.4b1.3b1.1 DE3.5 3.3b2.8b2.4 2.3 2.2 2.0 1.7 1.6 1.4 EE3.7 7.6 7.1 5.5 3.8 3.3 2.4 2.1 1.9 1.3 IE3.5 6.9 8.8 9.2 8.0 6.6 5.3 4.2 3.0 2.1 EL3.9b5.7 8.8 14.5 18.5 19.5 18.2 17.0 15.6 13.6 ES4.3 7.3 8.9 11.0 13.0 12.9 11.4 9.5 7.7 6.4 FR3.3e3.9e4.0e4.1e4.4e4.5 4.6 4.6 4.2 3.8 HR5.1 6.6 8.4 10.2 11.0 10.1 10.2 6.6 4.6 3.4 IT3.4 4.0 4.3 5.6 6.9 7.7 6.9 6.7 6.5 6.2 CY0.6b1.3 1.6 3.6 6.1 7.7 6.8 5.8 4.5 2.7 LV4.5 8.8 8.8 7.8 5.7 4.6 4.5 4.0 3.3 3.1 LT3.3 7.4 8.0 6.6 5.1 4.8 3.9 3.0 2.7 2.0 LU1.2b1.3 1.4 1.6 1.8 1.6 1.9b2.2 2.1 1.4 HU4.2 5.5 5.2 5.0 4.9 3.7 3.1 2.4 1.7 1.4 MT2.9 3.1 3.0 3.0 2.8 2.7 2.4 1.9 1.6 1.1 NL1.1 1.3 1.6 1.9 2.5 2.9 3.0 2.5 1.9 1.4 AT1.2 1.2 1.2 1.2 1.3 1.5 1.7 1.9 1.8 1.4 PL2.5 3.0b3.6 4.1 4.4 3.8 3.0 2.2 1.5 1.0 PT4.2 5.7 6.2b7.7 9.3 8.4 7.2 6.2 4.5 3.1 RO2.2 2.4b2.9 3.0 3.2 2.8 3.0 3.0 2.0 1.8 SI1.8 3.2 3.6 4.3 5.2 5.3 4.7 4.3 3.1 2.2 SK6.5 9.2 9.2b9.4 10.0 9.3 7.6 5.8 5.1 4.0 FI1.4 2.0 1.7 1.6 1.7 1.9 2.3 2.3 2.1 1.6 SE1.1 1.6 1.5 1.5 1.4 1.4 1.5 1.3 1.2 1.2 UK1.9 2.5 2.7 2.7 2.7 2.2 1.6 1.3 1.1 1.1 1) 2017 BE: revision in the survey methodology; DK: Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016). 2) 2015 LU: change in sampling strategy and data collection technique.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatThelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealready found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags:b:Break in series. e:Estimated.  
 
 
 
 
 
 
 
 
 
 
 
Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in pp)  

65 

2009201020112012201320142015201620172018BE1.4 3.6 0.7 -2.1 1.3 4.5 2.3 -3.6 -3.9b-6.3 BG-3.2 7.8d13.1 13.0 6.5 -1.2 -6.5 -11.2 -10.9 -8.9 CZ-0.9 7.6 8.2 2.9 0.6 -2.2 -6.9 -8.4 -8.0 -5.9 DK5.7 8.0 6.8 2.3 -0.7 -2.1 -3.6 -2.6 -1.8 -1.6 DE-2.5 -2.0 -1.9 -3.1 -2.0 -0.8 -0.8 -0.7 -0.9 -1.0 EE15.3 22.8 10.4 -6.5 -14.2 -7.4 -7.8 -5.3 -2.9 -1.2 IE15.7 18.9 16.1 6.3 -1.4 -6.2 -10.6 -9.9 -9.0 -6.4 EL0.7 10.3 22.8 29.6 25.3 7.7 -5.5 -11.0 -8.8 -9.9 ES19.8 23.4 21.7 15.2 14.0 7.0 -4.6 -11.1 -14.6 -14.0 FR1.6 3.8 3.6 0.8 1.6 1.6 0.3 -0.3 -1.9 -4.0 HR-3.5 6.9 13.0 16.8 17.6 8.3 0.1 -18.1 -17.7 -18.9 IT3.5 7.5 8.0 10.0 12.1 13.5 5.0 -2.2 -8.0 -8.1 CY3.8 6.4 13.4 13.9 22.3 13.6 5.1 -9.8 -11.3 -12.6 LV19.7 25.6 17.4 -4.8 -13.0 -11.4 -12.2 -5.9 -2.6 -4.1 LT19.6 27.3 19.3 -2.9 -13.8 -13.3 -10.4 -7.4 -6.0 -5.2 LU1.0 0.2 -0.9 1.5 1.1 5.9 -1.4 2.2 -6.8 -2.5 HU7.3 8.3 6.5 1.8 0.2 -5.6 -10.9 -13.7 -9.7 -7.1 MT-1.0 -0.3 1.6 -0.7 -0.5 -1.6 -2.2 -2.0 -1.1 -2.5 NL0.2 1.7 1.4 1.5 2.1 2.7 -0.4 -2.4 -3.8 -4.1 AT0.9 0.1 0.4 -1.3 0.2 1.4 1.2 1.5 -0.5 -1.2 PL-9.2d2.1 8.6 5.9 3.6 -1.9 -5.7 -9.6 -9.1 -9.1 PT4.1 6.8 8.6 12.7 9.9 4.5 -6.0 -9.9 -10.9 -11.7 RO-0.2 2.8 6.3 2.6 1.6 0.1 -0.9 -3.1 -5.7 -5.5 SI-0.3 4.6 5.3 7.0 6.9 4.5 -4.3 -6.4 -9.0 -7.5 SK0.6 13.3 14.4d6.4 -0.2 -4.0 -7.5 -11.5 -10.8 -11.6 FI2.8 4.9 3.6 -2.5 -1.5 0.4 3.4 0.2 -0.4 -5.4 SE3.5 5.6 2.6 -1.3 -1.2 0.1 -3.3 -4.7 -5.1 -3.6 UK5.2 5.6 6.3 2.1 0.8 -4.3 -6.6 -7.7 -4.9 -3.3 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)ofthesameage.TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweek;orhavealreadyfound a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1) 2017 BE: revision in the survey methodology.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 3.23: Youth unemployment rate - % of active population aged 15-24   

66 

2009201020112012201320142015201620172018BE21.9 22.4 18.7 19.8 23.7 23.2 22.1 20.1 19.3b15.8 BG15.1 21.9d25.0 28.1 28.4 23.8 21.6 17.2 12.9 12.7 CZ16.6 18.3 18.1 19.5 18.9 15.9 12.6 10.5 7.9 6.7 DK13.4 15.5 16.3 15.7 14.8 14.2 12.1 12.2 12.4 10.5 DE11.1 9.8 8.5 8.0 7.8 7.7 7.2 7.1 6.8 6.2 EE27.4 32.9 22.4 20.9 18.7 15.0 13.1 13.4 12.1 11.9 IE24.5 28.1 29.6 30.8 26.7 23.4 20.2 16.8 14.4 13.8 EL25.7 33.0 44.7 55.3 58.3 52.4 49.8 47.3 43.6 39.9 ES37.7 41.5 46.2 52.9 55.5 53.2 48.3 44.4 38.6 34.3 FR23.6 23.3 22.6 24.4 24.9 24.2 24.7 24.6 22.3 20.7 HR25.4 32.3 36.6 42.2 49.9 44.9 42.3 31.8 27.2 23.4 IT25.3 27.9 29.2 35.3 40.0 42.7 40.3 37.8 34.7 32.2 CY13.8 16.6 22.4 27.7 38.9 36.0 32.8 29.1 24.7 20.2 LV33.3 36.2 31.0 28.5 23.2 19.6 16.3 17.3 17.0 12.2 LT29.6 35.7 32.6 26.7 21.9 19.3 16.3 14.5 13.3 11.1 LU16.5 15.8 16.4 18.0 16.9 22.3 16.6 19.1 15.5 14.1 HU26.4 26.4 26.0 28.2 26.6 20.4 17.3 12.9 10.7 10.2 MT14.5 13.2 13.3 13.8 12.7 11.7 11.6 10.7 10.6 9.1 NL10.2 11.1 10.0 11.7 13.2 12.7 11.3 10.8 8.9 7.2 AT10.7 9.5 8.9 9.4 9.7 10.3 10.6 11.2 9.8 9.4 PL20.6d23.7 25.8 26.5 27.3 23.9 20.8 17.7 14.8 11.7 PT25.3 28.2 30.2 38.0 38.1 34.7 32.0 28.2 23.8 20.3 RO20.0 22.1 23.9 22.6 23.7 24.0 21.7 20.6 18.3 16.2 SI13.6 14.7 15.7 20.6 21.6 20.2 16.3 15.2 11.2 8.8 SK27.6 33.9 33.7d34.0 33.7 29.7 26.5 22.2 18.9 14.9 FI21.5 21.4 20.1 19.0 19.9 20.5 22.4 20.1 20.1 17.0 SE25.0 24.8 22.8 23.7 23.6 22.9 20.4 18.9 17.8 16.8 UK19.1 19.9 21.3 21.2 20.7 17.0 14.6 13.0 12.1 11.3 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)ofthesameage.TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethreeyearschangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),whichcoverstheresidentpopulation in private households.Flags:b:Break in series. d:Definition differs. 1) 2017 BE: revision in the survey methodology.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.24: Real GDP (1 year % change)  

67 

2009201020112012201320142015201620172018BE-2.0 2.9 1.7 0.7 0.5 1.6 2.0 1.5 2.0 1.5 BG-3.4 0.6 2.4 0.4 0.3 1.9 4.0 3.8 3.5 3.1 CZ-4.8 2.3 1.8 -0.8 -0.5 2.7 5.3 2.5 4.4 3.0 DK-4.9 1.9 1.3 0.2 0.9 1.6 2.3 2.4 2.3 1.5 DE-5.7 4.2 3.9 0.4 0.4 2.2 1.7 2.2 2.5 1.5 EE-14.4 2.7 7.4 3.1 1.3 3.0 1.8 2.6 5.7 4.8 IE-5.1 1.8 0.3 0.2 1.4 8.6 25.2 3.7 8.1 8.2 EL-4.3 -5.5 -9.1p-7.3p-3.2p0.7p-0.4p-0.2p1.5p1.9pES-3.8 0.2 -0.8 -3.0 -1.4 1.4 3.8 3.0 2.9p2.4pFR-2.9 1.9 2.2 0.3 0.6 1.0 1.1 1.1 2.3p1.7pHR-7.4 -1.5 -0.3 -2.2 -0.5 -0.1 2.4 3.5 3.1 2.6pIT-5.3 1.7 0.7 -3.0 -1.8 0.0 0.8 1.3 1.7 0.8 CY-2.0 2.0 0.4 -3.4 -6.6 -1.9 3.4 6.7 4.4 4.1pLV-14.2 -4.5 6.3 4.1 2.3 1.9 3.3 1.8 3.8 4.6 LT-14.8 1.5b6.0 3.8 3.6 3.5 2.0 2.6 4.2 3.6 LU-4.4 4.9 2.5 -0.4 3.7 4.3 4.3 4.6 1.8 3.1 HU-6.7 0.7 1.8 -1.5 2.0 4.2 3.8 2.2 4.3 5.1 MT-2.5 3.5 1.3 2.8 4.6 8.7 10.8 5.7 6.7 6.8 NL-3.7 1.3 1.6 -1.0 -0.1 1.4 2.0 2.2 2.9 2.6pAT-3.8 1.8 2.9 0.7 0.0 0.7 1.0 2.1 2.5 2.4 PL2.8 3.6 5.0 1.6 1.4 3.3 3.8 3.1 4.9 5.1 PT-3.1 1.7 -1.7 -4.1 -0.9 0.8 1.8 2.0 3.5 2.4pRO-5.5 -3.9 2.0 2.1 3.5 3.4 3.9 4.8 7.1 4.0pSI-7.5 1.3 0.9 -2.6 -1.0 2.8 2.2 3.1 4.8 4.1 SK-5.5 5.7 2.9 1.9 0.7 2.8 4.8 2.1 3.0 4.0 FI-8.1 3.2 2.5 -1.4 -0.9 -0.4 0.6 2.6 3.1 1.7 SE-4.2 6.2 3.1 -0.6 1.1 2.7 4.4 2.4 2.4 2.3 UK-4.2 1.9 1.5 1.5 2.1 2.6 2.4 1.9 1.9 1.4 Grossdomesticproduct(GDP)atmarketpricesisthefinalresultoftheproductionactivityofresidentproducerunits.Itisdefinedasthevalueofallgoodsandservicesproducedlessthevalueofanygoodsorservicesusedintheir creation. The ESA 2010 (European System of Accounts) regulation may be referred to for more specific explanations on methodology. Data are expressed as percentage change comparing year Y with year Y-1.Flags:b:Break in series. p:Provisional. 1) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.25: Gross fixed capital formation (% of GDP)   

68 

2009201020112012201320142015201620172018BE22.8 22.1 23.0 23.0 22.2 22.8 23.0 23.2 23.1 23.8 BG27.8 22.3 21.0 21.2 21.3 21.1 20.9 18.5 18.4 18.8 CZ27.1 26.9 26.5 25.9 25.1 25.1 26.5 24.9 24.8 25.5 DK20.2 18.1 18.2 18.8 19.1 19.2 19.9 20.9 21.2 22.4 DE19.3 19.5 20.4 20.3 19.9 20.0 20.0 20.3 20.5 21.2 EE22.6 21.1 26.2 28.5 27.7 25.6 24.3 23.3 24.8 23.9 IE21.1 17.5 16.6 19.6 18.6 20.6 24.1 35.6 31.4 23.4 EL20.8 17.6 15.3p12.6p12.2p11.5p11.6p12.1p12.9p11.1pES23.1 21.8 20.0 18.5 17.4 17.8 18.0 18.0 18.7p19.4pFR22.1 22.1 22.4 22.5 22.0 21.8 21.5 21.8 22.5p22.9pHR25.2 21.2 20.2 19.6 19.7 19.3 19.5 20.1 20.1 20.1pIT20.1 20.0 19.7 18.3 17.2 16.7 16.9 17.2 17.4 17.7 CY23.4 22.5 19.0 15.5 14.1 12.9 12.6 17.8 21.1 19.1pLV22.4 19.2 22.0 25.3 23.1 22.6 22.0 19.5 20.7 22.5 LT17.9 16.9b18.5 17.4 18.5 18.9 19.6 19.9 20.0 20.5 LU18.4 17.6 19.2 20.2 19.5 20.0 18.2 18.1 18.8 16.8 HU22.7 20.2 19.7 19.2 20.8 22.1 22.3 19.7 22.2 25.2 MT18.2 21.4 17.9 18.1 17.4 17.3 24.8 23.6 20.5 19.0 NL21.3 19.7 20.1 18.8 18.4 17.6 22.1 20.0 20.1 20.3pAT22.4 21.6 22.5 22.6 23.0 22.7 22.7 23.1 23.5 23.9 PL21.4 20.3 20.7 19.8 18.8 19.7 20.1 18.0 17.5 18.2 PT21.2 20.6 18.4 15.8 14.8 15.0 15.5 15.5 16.8 17.6pRO26.0 26.1 27.2 27.4 24.8 24.3 24.8 22.9 22.4 21.2pSI24.1 21.1 19.9 19.0 19.6 19.1 18.7 17.4 18.3 19.2 SK20.8 21.1 23.3 20.3 20.4 20.4 23.7 21.0 21.3 21.2 FI23.0 22.3 22.6 23.1 22.0 21.5 21.2 22.7 23.2 23.7 SE22.7 22.7 23.2 23.0 22.7 23.5 23.8 24.2 25.2 25.9 UK15.9 15.8 15.4 15.5 15.7 16.4 16.9 17.2 17.2 17.0 Grossfixedcapitalformation(GFCF)consistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.GFCFincludesacquisitionlessdisposalsof,e.g.buildings,structures,machineryandequipment,mineralexploration,computersoftware,literaryorartisticoriginalsandmajorimprovementstoland such as the clearance of forests. The input data are obtained through official national accounts' country data in the ESA 2010 transmission programme.Flags:b:Break in series. p:Provisional. 1) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.26: Gross domestic expenditure on R&D (% of GDP)  

69 

2009201020112012201320142015201620172018BE2.0 2.1 2.2 2.3 2.3 2.4 2.5 2.6 2.7 naBG0.5 0.6 0.5 0.6 0.6 0.8 1.0 0.8 0.8 0.8pCZ1.3 1.3 1.6 1.8 1.9 2.0 1.9 1.7 1.8 1.9pDK3.1 2.9 2.9 3.0 3.0 2.9 3.1 3.1 3.1p3.1pDE2.7 2.7 2.8 2.9 2.8 2.9 2.9 2.9 3.1 3.1eEE1.4 1.6 2.3 2.1 1.7 1.4 1.5 1.3 1.3 1.4pIE1.6e1.6e1.6e1.6e1.6e1.5e1.2 1.2 1.2 1.2 EL0.6e0.6e0.7 0.7 0.8 0.8 1.0 1.0 1.1 1.2pES1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 1.2 naFR2.2 2.2b2.2 2.2 2.2 2.2 2.3p2.2p2.2pnaHR0.8 0.7 0.8 0.8 0.8 0.8 0.8 0.9 0.9 naIT1.2 1.2 1.2 1.3 1.3 1.3e1.3 1.4b1.4 naCY0.4 0.4 0.5 0.4 0.5 0.5 0.5 0.5 0.6 naLV0.5 0.6 0.7 0.7 0.6 0.7 0.6 0.4 0.5 0.6pLT0.8 0.8 0.9 0.9 1.0 1.0 1.0 0.8 0.9 0.9pLU1.7 1.5 1.5 1.3b1.3 1.3 1.3 1.3 1.3 naHU1.1 1.1 1.2 1.3 1.4 1.4 1.4 1.2 1.3 1.5 MT0.5 0.6 0.7 0.8 0.8 0.7 0.7 0.6 0.6 0.6 NL1.7 1.7 1.9b1.9b1.9 2.0 2.0 2.0 2.0 naAT2.6 2.7e2.7 2.9e3.0 3.1e3.1 3.1 3.1 3.2pPL0.7 0.7 0.8 0.9 0.9 0.9 1.0 1.0 1.0 1.2pPT1.6 1.5 1.5 1.4 1.3 1.3 1.2 1.3 1.3 1.4pRO0.4 0.5 0.5b0.5 0.4 0.4 0.5 0.5 0.5 naSI1.8 2.1 2.4b2.6 2.6 2.4 2.2 2.0 1.9 2.0pSK0.5 0.6 0.7 0.8 0.8 0.9 1.2 0.8 0.9 0.8 FI3.7 3.7 3.6 3.4 3.3 3.2 2.9 2.7 2.7 2.8 SE3.4 3.2e3.2 3.2e3.3e3.1e3.2 3.3p3.4 3.3 UK1.7e1.7e1.7b1.6e1.6 1.7e1.7 1.7e1.7pnaResearchandexperimentaldevelopment(R&D)comprisecreativeandsystematicworkundertakeninordertoincreasethestockofknowledge–includingknowledgeofhumankind,cultureandsociety–andtodevisenewapplications of available knowledge (Frascati Manual, 2015 edition, § 2.5 ). The GDP used in denominator of the MIP indicator comes from the ESA 2010 transmission programme.Flags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) 

70 

2009201020112012201320142015201620172018BE1.5 1.6 -2.0 0.6 0.9 0.6 1.4 0.7 1.3 -1.0 BG-7.0 -1.0 1.6 0.4 2.4 3.5 3.2 5.4 4.5 6.4 CZ-1.0 -2.6 -1.8 -0.3 1.5 0.9 2.5 2.7 2.5 0.6 DK3.4 6.6 6.9 6.3 7.7 8.7 7.9 7.8 7.8 7.1 DE5.8 5.8 6.2 7.1 6.5 7.3 8.6 8.5 8.0 7.4 EE5.9 5.2 5.3 1.5 2.9 1.8 3.8 2.7 3.6 3.4 IE-4.6 -1.1 -1.5 -3.3 1.0 -2.4 3.9 -5.8 -8.2 -5.8 EL-11.5 -9.1 -7.3 -2.3 0.3 0.7 0.3 -1.1 -1.4 -2.6 ES-4.0 -3.5 -2.8 0.6 2.6 2.1 2.7 3.4 2.9 2.4 FR-0.5 -0.6 -0.9 -1.1 -0.5 -1.0 -0.4 -0.4 -0.7 -0.6 HR-6.6 -2.1 -1.7 -1.8 -0.9 0.7 3.9 3.6 4.4 3.3 IT-1.8 -3.3 -2.8 -0.1 1.1 2.1 1.8 2.4 2.7 2.6 CY-6.3 -10.5 -2.0 -4.4 -1.0 -3.5 -0.6 -4.1 -4.7 -3.8 LV10.1 3.8 -1.1 -0.7 -0.2 0.9 1.9 2.5 1.7 1.1 LT6.4 4.0 -0.5 1.3 4.8 6.1 0.6 0.3 1.7 1.8 LU6.1 6.2 5.6 4.8 4.4 3.9 4.6 4.7 4.5 6.1 HU1.0 2.1 3.0 4.1 7.2 4.9 6.9 4.6 3.1 2.1 MT-7.3 -4.3 -0.8 1.5 1.9 7.5 5.6 4.1 12.1 12.3 NL5.5 6.5 8.7 8.9 9.9 8.4 5.8 7.9 10.8 10.8 AT2.6 2.9 1.5 1.3 1.8 2.4 1.2 2.6 1.5 2.3 PL-2.3 -3.6 -3.2 -1.5 1.0 0.4 1.8 0.5 1.3 1.1 PT-9.3 -8.8 -4.5 0.3 3.2 1.4 1.3 2.0 2.1 1.4 RO-4.2 -5.0 -4.4 -3.4 1.0 2.0 1.2 0.4 -2.0 -3.4 SI-1.0 -0.6 -1.0 1.4 3.7 5.3 4.9 4.1 5.4 5.2 SK-2.7 -3.2 -3.7 2.9 3.3 2.1 1.2 -1.0 -1.8 -1.3 FI2.1 1.6 -1.3 -2.0 -1.7 -1.2 -0.9 -2.0 -0.7 -1.3 SE5.8 5.7 5.3 5.4 4.9 4.4 3.9 3.7 2.7 1.7 UK-3.3 -3.2 -1.8 -3.5 -4.8 -4.8 -5.0 -5.3 -3.6 -4.5 Netlending/borrowingofacountrycorrespondstothesumoftotalcurrentandcapitalaccounts’balancesinbalanceofpayments.Itrepresentsthenetresourcesthatthetotaleconomymakesavailabletotherestoftheworld(ifit is positive) or receives from the rest of the world (if it is negative). The indicator is based on the Balance of Payments data.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.28: Net international investment position excluding non-defaultable instruments (% of GDP)  

71 

2009201020112012201320142015201620172018BE59.8 61.6 63.9 58.6 58.5 51.8 51.7 52.2 46.5 36.6 BG-8.0 -8.7 -1.9 4.2 7.4 10.8 20.6 29.0 32.1 35.4 CZ8.6 7.5 7.8 9.3 14.9 19.1 20.7 28.2 27.0 28.3 DK-28.6 -21.3 -12.0 -2.7 -3.6 11.4 9.9 10.8 14.1 11.0 DE21.0 20.9 15.5 22.1 29.5 31.7 34.5 37.9 42.0 44.7 EE-30.5 -17.1 -1.7 3.2 7.4 12.7 16.6 18.5 20.1 25.7 IE-217.2 -237.3 -239.2 -256.8 -310.2 -352.1 -243.3 -247.8 -264.5 -251.7 EL-83.7 -99.9 -97.4 -122.3 -129.8 -128.6 -127.8 -126.9 -126.6 -130.6 ES-72.3 -72.3 -76.9 -73.7 -69.7 -70.1 -64.8 -61.5 -57.2 -53.6 FR-24.2 -24.5 -23.1 -27.0 -26.9 -31.0 -29.7 -30.4 -31.9 -33.0 HR-49.0 -50.9 -53.1 -50.7 -49.9 -45.1 -38.2 -27.7 -19.4 -13.7 IT-20.9 -22.3 -22.3 -24.6 -23.9 -21.2 -17.5 -11.6 -6.1 -6.2 CY-43.8 -57.2 -100.8 -104.1 -141.5 -197.8 -259.1 -228.3 -210.1 -175.0 LV-43.7 -41.6 -31.7 -25.1 -21.3 -19.4 -13.7 -10.2 -7.0 -2.4 LT-30.1 -25.3 -21.5 -22.9 -18.7 -16.9 -13.5 -12.5 -7.7 -2.7 LU-1591.8 -1850.5 -1942.7 -2455.5 -2691.2 -3307.2 -3772.6 -3681.2 -3875.6 -3523.8 HU-51.4 -49.3 -47.5 -42.0 -35.2 -29.6 -18.4 -12.1 -8.8 -4.2 MT93.6 224.6 218.3 268.0 225.0 211.5 198.0 208.2 243.0 248.0 NL-74.9 -78.9 -74.1 -69.6 -66.9 -45.8 -54.2 -33.0 -17.5 -14.0 AT-4.8 -10.3 -14.2 -16.0 -11.7 -11.3 -11.3 -9.4 -4.4 -5.0 PL-22.4 -24.5 -25.6 -26.4 -27.1 -26.2 -26.0 -22.9 -20.7 -16.9 PT-71.2 -67.7 -71.6 -82.1 -78.1 -77.7 -72.3 -64.8 -59.5 -57.1 RO-21.1 -23.1 -25.1 -25.0 -20.4 -16.0 -13.0 -6.7 -5.8 -3.9 SI-39.5 -42.0 -35.4 -37.6 -32.8 -29.1 -19.7 -15.5 -10.6 -1.9 SK-11.9 -10.9 -12.4 -8.6 -10.5 -13.0 -14.0 -14.8 -15.2 -16.5 FI4.1 8.0 2.9 -2.2 -4.6 0.1 15.2 10.1 4.7 3.9 SE-24.6 -16.8 -18.6 -20.5 -24.4 -21.4 -13.8 -12.1 -7.1 -11.4 UK-36.2 -26.6 -22.5 -24.0 -12.4 -15.8 -13.0 1.0 -2.6 4.9 TheindicatorisasubsetoftheNetinternationalinvestmentposition(NIIP)thatabstractsfromitspureequity-relatedcomponents,i.e.foreigndirectinvestment(FDI)equityandequityshares,andfromintra-companycross-borderFDIdebt,andrepresentstheNIIPexcludinginstrumentsthatcannotbesubjecttodefault.TheindicatorisbasedonannualfiguresfromtheEurostatBalanceofPaymentsandisdefinedastheNIIPminusnetdirectinvestment minus net portfolio equity. It is calculated as a % of GDP and expressed in national currency.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP) 

72 

2009201020112012201320142015201620172018BE15.1 26.0 31.5 2.4 -5.6 -2.7 -4.3 12.2 -6.9 -11.8 BG7.5 3.6 3.7 3.3 3.6 1.9 4.3 2.7 3.4 1.9 CZ2.5 4.9 1.9 4.5 3.5 3.9 0.9 5.6 5.2 3.5 DK1.2 -3.6 3.8 -4.9 0.2 2.0 0.6 2.5 0.9 0.3 DE1.6 2.5 2.6 1.8 1.8 0.5 1.9 1.8 2.3 2.7 EE9.1 13.0 4.9 7.7 4.4 6.6 -3.1 3.8 6.4 3.8 IE22.8 16.8 15.3 25.9 29.6 38.4 82.0 34.5 19.2 16.8 EL0.8 0.2 0.4 0.7 1.2 1.1 0.6 1.4 1.7 1.8 ES0.9 2.8 2.2 1.6 3.5 2.3 1.9 3.6 2.0 3.4 FR0.7 1.5 1.5 1.2 1.1 0.2 1.8 1.3 1.5 2.2 HR4.8 2.5 2.0 2.3 1.7 5.3 0.1 0.8 0.9 1.9 IT0.9 0.4 1.5 0.0 0.9 0.8 0.7 1.4 0.6 1.9 CY252.2 120.7 146.1 276.8 108.8 223.3 146.5 40.9 80.9 22.2 LV-0.6 2.0 5.4 3.8 3.3 3.3 3.0 1.2 3.7 1.3 LT-1.0 2.9 4.3 1.6 1.6 0.8 2.5 3.1 2.8 2.7 LU410.6 423.7 679.9 971.6 1024.1 276.6 1295.6 192.6 126.4 -722.2 HU-2.4 -15.9 10.0 8.2 -2.7 9.5 -4.3 55.7 -8.2 -43.8 MT16.8 106.3 82.1 36.1 5.6 2.8 34.0 27.6 31.2 32.2 NL10.9 14.5 37.1 29.4 37.5 13.0 41.9 30.8 12.3 -27.3 AT3.4 -5.4 5.4 1.3 0.1 0.4 -2.1 -7.5 3.2 0.9 PL3.2 3.7 3.4 1.5 0.2 3.6 3.2 3.9 2.2 2.8 PT2.3 3.5 4.0 10.1 4.7 5.7 1.3 3.5 4.5 2.7 RO2.7 2.0 1.3 1.8 2.0 1.9 2.4 3.3 2.8 3.1 SI-0.7 0.6 1.7 0.1 0.2 2.0 4.0 3.2 2.5 2.8 SK1.9 2.3 5.6 1.8 1.0 -0.4 1.7 5.3 4.4 2.4 FI-3.3 4.8 -2.2 1.9 -1.9 6.4 7.4 2.0 6.7 -1.9 SE2.1 0.2 1.1 0.8 0.2 -1.7 2.1 2.6 4.5 1.6 UK0.4 2.6 1.0 1.7 2.0 2.0 1.6 12.2 4.6 1.3 Foreigndirectinvestment(FDI)isacategoryofinvestmentthatreflectstheobjectiveofestablishingalastinginterestbyaresidententerpriseinoneeconomy(directinvestor)inanenterprise(directinvestmententerprise)thatisresidentinaneconomyotherthanthatofthedirectinvestor.Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpowerofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofbalanceofpaymentsandareconsistentwiththecomponentsofnationalaccountsstatistics.InwardFDIflowsrepresentthevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyinthereferenceperiod.Dataareexpressedas%ofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalance of Payments Manual (BPM6). (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.30: Foreign direct investment in the reporting economy - stocks (% of GDP) 

73 

2009201020112012201320142015201620172018BE214.8 230.4 242.2 244.0 231.9 226.9 225.3 221.8 200.8 170.1 BG94.2 90.7 87.8 90.0 89.5 93.1 92.8 89.6 86.8 82.3 CZ66.2 70.1 69.6 74.7 77.4 77.3 75.8 78.4 78.3 77.5 DK46.8 43.5 43.9 43.6 41.8 49.8 49.9 58.7 56.2 55.5 DE34.4 35.3 35.9 40.0 41.3 41.3 42.2 42.8 43.4 44.7 EE88.7 94.0 89.0 93.6 98.3 103.1 97.3 98.8 95.2 92.7 IE274.8 302.5 314.3 337.8 347.8 388.4 497.6 514.8 478.8 466.2 EL13.8 13.8 12.2 11.5 12.0 11.8 14.7 15.6 17.7 18.5 ES49.0 50.5 51.6 55.4 57.7 60.0 61.2 63.7 63.7 65.4 FR37.0 38.1 40.2 40.5 41.3 42.1 43.9 44.7 44.3 45.8 HR51.5 55.1 51.1 52.5 51.3 56.9 51.0 51.2 49.9 48.1 IT22.0 20.2 21.4 23.0 23.7 25.0 25.5 26.3 26.2 27.3 CY968.5 1041.1 1156.6 1436.8 1650.4 1943.9 2138.7 2075.9 1945.1 1890.1 LV45.7 49.3 49.9 49.4 53.9 56.5 59.5 58.3 59.8 55.5 LT40.8 43.9 42.3 41.9 42.5 41.2 42.6 44.6 44.2 43.4 LU3505.4 3640.8 4666.0 5978.7 6465.3 7976.5 9415.9 9180.9 8494.8 7466.2 HU226.7 214.1 235.9 226.9 211.5 217.2 221.0 259.3 210.6 163.1 MT1698.3 1859.2 2026.2 2051.0 1972.3 1840.7 1720.9 1694.3 1629.9 1568.6 NL417.1 431.3 472.5 503.2 534.5 558.1 614.0 640.7 628.7 581.8 AT81.1 74.8 72.8 74.7 75.2 77.8 75.4 65.0 66.6 67.4 PL40.4 48.4 47.3 47.7 50.1 51.5 48.1 50.6 49.6 47.8 PT56.4 59.2 58.1 70.8 77.4 81.5 81.0 80.5 82.5 79.0 RO39.1 41.8 41.8 43.3 43.1 41.9 42.6 44.5 44.5 44.0 SI26.0 26.9 28.5 29.6 28.9 31.5 34.4 37.1 38.0 39.1 SK64.3 62.1 65.3 64.0 64.6 62.0 62.8 70.9 71.4 69.2 FI50.5 54.4 50.4 51.7 46.6 52.0 57.3 54.5 56.9 48.9 SE99.7 91.6 90.2 90.3 89.8 83.7 83.7 83.7 85.6 81.1 UK56.9 59.2 59.9 73.1 71.0 71.1 70.6 77.5 83.0 83.9 Foreigndirectinvestment(FDI)isthecategoryofinvestmentmadebyanentityresidentinaneconomy(directinvestor)toacquirealastinginterestinanentityoperatinginaneconomyotherthanthatoftheinvestor(directinvestmententerprise).Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpoweroftheofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofinternationalinvestmentpositionandareconsistentwiththecomponentsofnationalaccountsstatistics.InwardFDIstocksarethevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyattheendofthereferenceperiod.DataareexpressedaspercentageofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalance of Payments Manual (BPM6). (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.31: Net trade balance of energy products (% of GDP)  

74 

2009201020112012201320142015201620172018BE-3.3 -3.7 -4.7 -5.0 -4.5 -3.8 -2.7 -2.2 -2.4 -3.5 BG-5.0 -5.7 -6.3 -6.9 -6.2 -5.6 -3.8 -2.4 -3.0 -3.4 CZ-2.7 -3.5 -4.4 -4.7 -4.8 -4.0 -2.4 -2.1 -2.6 -2.9 DK1.0 0.9 0.7 0.8 0.3 0.0 0.0 0.0 -0.1 -0.2 DE-2.5 -2.9 -3.6 -3.6 -3.4 -2.8 -2.0 -1.5 -1.7 -2.0 EE-2.2 -1.5 -0.4 -1.3 -2.2 -2.1 -1.5 -1.0 -0.6 -1.0 IE-2.3 -2.8 -3.3 -3.0 -3.2 -2.7 -1.5 -1.1 -1.2 -1.4 EL-2.2 -3.0 -3.6p-4.0p-3.7p-3.4p-2.1p-1.6p-1.8p-2.4pES-2.3 -2.9 -3.8 -3.8 -3.4 -2.9 -2.0 -1.5 -1.8p-2.1pFR-2.0 -2.4 -3.0 -3.3 -3.1 -2.5 -1.8 -1.4 -1.7p-1.9pHR-3.6 -3.8 -5.4 -5.6 -5.1 -4.0 -3.4 -2.7 -2.9 -3.2pIT-2.6 -3.2 -3.6 -3.8 -3.3 -2.6 -2.0 -1.5 -1.9 -2.3 CY-4.6 -5.9 -6.7 -7.6 -6.4 -5.9 -4.0 -3.3 -4.1 -4.2pLV-4.4 -4.9 -5.5 -6.1 -5.6 -4.7 -3.5 -2.5 -3.0 -3.4 LT-4.1 -7.1b-7.6 -7.5 -6.1 -4.7 -3.6 -2.6 -3.0 -4.0 LU-4.1 -4.8 -5.9 -6.3 -5.4 -4.4 -3.1 -2.4 -2.8 -3.3 HU-4.9 -5.1 -6.0 -6.3 -6.3 -6.1 -4.1 -3.1 -3.7 -3.8 MT-0.1 1.1 -2.8 -12.2 -9.0 -14.9 -8.8 -8.2 -6.4 -8.5 NL-0.7 -1.5 -1.9 -2.6 -1.4 -1.6 -1.1 -0.6 -0.7 -1.5pAT-2.4 -2.9 -3.7 -3.9 -3.5 -3.0 -2.3 -1.9 -2.1 -2.5 PL-2.2 -2.6 -3.3 -3.4 -2.7 -2.6 -1.6 -1.4 -2.0 -2.8 PT-2.8 -3.4 -4.2 -4.7 -3.7 -3.6 -2.3 -1.6 -2.2 -2.5pRO-1.5 -2.2 -2.7 -3.0 -1.9 -1.4 -0.9 -0.9 -1.3 -1.6pSI-3.9 -5.0 -6.2 -6.7 -5.5 -4.1 -3.1 -2.1 -2.6 -2.9 SK-4.4 -5.6 -6.4 -5.8 -5.9 -4.2 -3.5 -2.7 -3.5 -4.1 FI-2.4 -2.8 -3.7 -2.6 -2.6 -2.4 -1.8 -1.4 -1.6 -2.0 SE-1.2 -1.6 -1.8 -1.7 -1.5 -1.3 -0.8 -0.8 -0.9 -1.3 UK-0.4 -0.4 -1.0 -1.2 -1.1 -0.8 -0.6 -0.5 -0.6 -0.7 Thetradebalanceofenergyproductsiscalculated,foreachMemberState,asthedifferencebetweenexportstoandimportsfromtherestoftheworld(intra-EUandextra-EUtrade)ofgoodsincludedintheSITCsection3-Mineral fuels, lubricants and related materials.The data source from International trade statistic and is expressed as percentage of GDP (according to ESA 2010 transmission programme).Flags:b:Break in series. p:Provisional. 1) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.32: Real effective exchange rate - Euro Area trading partners (3 year % change) 

75 

2009201020112012201320142015201620172018BE0.6 1.9 1.3 1.9 0.6 -0.1 0.1 1.9 2.6 2.8 BG16.0 11.7 3.9 1.9 -0.4 -3.0 -4.1 -4.8 -3.2 -1.1 CZ10.4 12.7 0.8 5.6 -2.4 -10.1 -8.2 -3.8 5.6 7.6 DK0.4 1.7 1.5 0.7 -1.3 -1.4 -1.5 -0.4 -0.7 -1.8 DE-1.1 -1.5 -1.0 -1.3 -0.7 0.0 1.0 1.0 0.8 0.4 EE8.9 6.4 2.8 5.2 5.3 3.1 1.5 0.2 2.3 4.1 IE-1.6 -5.3 -6.5 -5.1 -3.1 -1.8 -1.5 -1.1 -2.2 -3.0 EL2.5 5.0 4.5 2.0 -3.5 -5.6 -5.3 -3.3 -1.9 -1.5 ES1.1 0.9 0.4 0.8 0.4 -0.6 -1.4 -2.3 -1.1 -0.2 FR-1.2 -0.2 -0.4 -0.5 -1.4 -0.7 -0.6 0.0 -0.7 -0.1 HR4.1 4.3 -2.2 -2.6 -2.9 -1.4 -1.2 -1.1 0.6 1.2 IT0.3 0.7 0.9 1.4 1.0 0.4 -0.7 -0.9 -0.8 -1.3 CY-1.3 0.4 0.7 2.0 1.0 -0.1 -2.6 -3.5 -3.9 -3.2 LV18.9 8.3 0.3 -0.7 0.2 -1.3 -2.2 -0.3 0.7 1.3 LT12.9 9.9 4.8 1.7 1.4 -0.1 -1.6 -0.9 1.4 3.0 LU0.9 1.7 2.0 2.8 1.7 0.8 0.1 -0.4 0.0 0.4 HU5.2 0.0 -2.5 4.6 -3.0 -7.0 -7.3 -5.3 0.4 -1.0 MT1.5 3.5 1.9 1.1 0.1 0.7 0.8 1.8 1.2 0.3 NL-1.1 -1.0 0.0 -0.4 1.3 1.3 0.8 -0.6 -0.7 -0.8 AT-0.3 0.2 1.2 1.3 1.6 1.6 2.0 2.1 1.8 1.7 PL-6.2 -0.1 -9.5 7.3 -3.3 -1.5 -2.1 -5.7 -3.2 -3.0 PT-1.8 -2.1 -0.5 0.9 0.1 -1.2 -1.1 0.3 0.8 -0.3 RO-6.3 -9.2 -1.6 3.2 0.7 -1.3 2.2 -2.8 -5.1 -4.1 SI3.9 3.1 0.4 0.2 0.0 0.4 -0.9 -1.8 -1.6 -0.4 SK24.8 12.7 4.9 1.9 2.5 0.5 -1.5 -2.2 -1.7 -0.4 FI0.8 1.9 2.2 1.6 1.9 2.0 0.9 0.3 -1.2 -1.4 SE-12.2 -1.1 7.4 19.3 5.9 -3.8 -7.9 -7.9 -4.0 -7.6 UK-21.7 -16.8 -2.7 14.5 4.2 10.3 13.8 4.8 -6.8 -16.2 (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFINRealeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetotheEuroareacountries(doubleexportweightsareusedtocalculateREERs,reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The MIP scoreboard indicator is the percentage change over three years of REER.  
 
 
 
 
 
 
 
 
 
 
Table 3.33: Export performance against advanced economies (5 year % change) 

76 

2009201020112012201320142015201620172018BE-1.3 -4.3 -0.6 -6.9 -6.7 -7.5 -12.6 -7.0 -1.7 -3.4 BG29.1 16.8 19.8 9.1 7.0 12.7 14.4 7.2 17.1 11.1 CZ37.9 20.9 15.8 5.2 -3.3 0.1 -1.1 0.3 5.6 9.7 DK7.2 -3.3 -7.1 -9.4 -11.9 -10.2 -7.5 -4.9 -1.7 -3.5 DE1.0 -0.6 -2.3 -8.3 -6.7 -3.4 -2.1 -0.1 2.8 1.1 EE26.1 18.5 34.1 17.8 17.8 28.7 8.5 -2.4 -0.6 -1.3 IE10.5 1.4 -3.3 -10.0 -4.2 -8.9 39.4 55.3 66.6 73.8 EL-2.8 -8.8 -10.7 -18.8 -21.4 -14.0 -13.0 -11.7 -3.1 4.7 ES-1.1 -4.5 -1.2 -9.1 -3.8 -5.5 -2.2 0.8 6.8 2.5 FR-6.3 -10.4 -8.9 -10.0 -8.1 -8.8 -2.6 -1.0 -0.4 -2.2 HR4.0 -3.3 -9.1 -18.2 -17.8 -13.9 -4.7 7.2 19.8 20.5 IT-11.1 -12.4 -12.9 -18.2 -14.7 -9.8 -8.7 -6.0 -1.6 -1.7 CY-1.5e-9.0e-3.5e-12.8e-5.7 -14.7 -3.7 5.7 15.4 14.2 LV65.5 31.6 36.4 18.9 13.5 19.5 14.8 7.9 5.2 6.5 LT41.9 26.0 35.8 39.9 19.9 27.4 7.7 -3.4 0.9 1.4 LU21.3 11.7 3.7 4.1 16.0 24.2 31.3 30.5 18.0 8.5 HU19.6 9.1 3.1 -15.4 -17.3 -11.2 -8.3 -4.2 7.8 6.3 MT58.1 49.1 26.8 23.6 6.5 -6.6 10.3 20.0 20.8 21.5 NL2.6 -0.6 -1.2 -4.0 -5.0 -5.4 -5.7 -5.0 -1.3 -0.4 AT1.9 -5.5 -5.7 -13.8 -12.6 -10.1 -8.1 -4.9 -0.1 1.8 PL45.8 34.9 24.1 11.7 6.9 11.8 10.4 15.3 24.4 23.2 PT-1.0 -0.1 -2.9 -8.9 -1.5 -1.1 2.0 3.0 11.1 7.2 RO83.7 65.9 61.6 23.7 21.9 28.2 21.9 20.6 32.7 21.2 SI19.2 6.7 1.7 -12.8 -12.3 -6.8 -3.5 1.5 14.8 18.0 SK18.8 12.4 4.8 -1.2 2.8 8.8 5.2 5.1 2.3 1.1 FI-6.1 -13.1 -17.6 -25.5 -27.6 -22.4 -22.2 -17.5 -7.5 -5.0 SE-8.8 -5.6 -5.4 -11.3 -11.2 -3.5 -8.3 -9.5 -7.2 -8.2 UK-13.0 -17.7 -20.2 -13.2 -5.3 -3.1 3.9 -1.0 -3.9 -5.7 TheindicatorshowsdevelopmentsinsharesofexportsofgoodsandservicesofEUMemberStatesinrelationtototalexportsofgoodsandservicesof34OECDcountries(21EUMSsand13non-EUcountries).Tocapturethestructural losses in competitiveness that can accumulate over longer time periods is calculated the 5 year % change (comparing year Y with year Y-5).Flags:e:Estimated. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and OECD 
 
 
 
 
 
 
 
 
 
 
 
Table 3.34: Terms of trade (5 year % change) 

77 

2009201020112012201320142015201620172018BE-0.9 -2.0 -2.7 -2.8 0.2 -2.5 0.3 2.3 1.7 0.3 BG12.0 14.0 11.5 5.9 4.2 3.0 3.6 3.1 5.7 7.5 CZ-2.4 -2.1 -1.7 -3.3 -0.9 -1.4 0.9 3.6 3.1 1.9 DK2.7 3.3 2.0 3.1 2.4 3.7 1.6 4.3 4.2 1.6 DE-0.3 -0.8 -1.7 -2.3 0.4 -2.6 1.9 6.4 5.6 3.5 EE7.0 3.0 1.0 -1.5 -0.7 0.4 2.9 3.4 4.9 4.3 IE0.8 -4.2 -1.4 -3.6 -4.7 -5.3 2.5 0.3 0.7 -0.5 EL-2.3 -1.0 -1.5p-3.5p-0.8p1.5p6.0p6.1p7.4p3.6pES5.2 1.4 -2.7 -4.6 -1.6 -6.7 -3.6 0.4 0.7p-2.3pFR0.2 0.2 -0.7 -2.1 -0.4 -1.7 2.8 6.4 5.3p2.8pHR5.2 5.8 4.8 2.9 1.4 0.7 0.5 1.4 2.3 1.8pIT-1.3 -2.7 -2.3 -4.8 -0.8 -3.8 2.5 8.6 8.5 6.0 CY-4.0 -1.9 -1.7 -2.1 -0.6 -0.9 0.4 1.7 2.1 1.4pLV1.5 2.6 6.3 -1.3 1.0 0.0 0.4 0.4 3.8 5.0 LT-1.3 -1.7b0.4 -1.4 -5.1 -0.5 1.4 4.0 5.2 4.5 LU3.6 4.6 3.0 4.2 2.8 2.0 0.2 0.2 -0.4 -0.2 HU-2.7 -1.0 -1.1 -2.4 -1.1 -1.2 -0.5 1.5 1.9 0.3 MT1.0 1.6 1.1 0.1 0.9 1.9 0.7 0.9 2.1 2.0 NL0.9 -1.2 -2.9 -2.6 -2.0 -3.0 -0.1 2.0 1.8 1.1pAT-1.7 -2.5 -3.1 -3.2 -1.9 -2.7 0.4 3.1 2.3 1.5 PL4.5 1.7 0.3 -2.6 -0.1 -1.4 2.5 4.6 6.1 3.8 PT2.4 2.1 -0.4 -0.2 3.9 0.1 4.7 8.4 6.9 4.8pRO29.5 25.5 18.2 5.3 3.4 4.5 6.0 3.9 5.3 5.3pSI0.3 -1.6 -2.4 -4.3 -2.3 -4.6 0.6 2.9 3.5 2.6 SK-5.2 -5.9 -5.9 -6.0 -4.8 -3.7 -3.2 -2.3 -1.6 -1.7 FI-7.1 -5.8 -4.3 -5.3 -2.7 -3.2 1.5 3.1 3.6 3.4 SE0.3 1.8 1.0 -0.4 0.2 -0.5 0.6 1.6 0.7 -1.1 UK-2.9 -1.7 -3.0 -1.5 3.7 3.9 4.1 6.7 5.5 3.3 Acountry’stermsoftrademeasuresacountry'sexportpricesinrelationtoitsimportprices.Theindicatormeasuresthecountry'stradecompetitiveness,asitindicateshowmuchimportsaneconomycangetforaunitofexportgoods.Itiscalculatedastheratioofthepriceindexforexportsofgoodsandservicestothepriceindexforimportsofgoodsandservices.Theseareobtainedbydividingcurrentpricesbychain-linkedvolumesusingthestandard reference year 2010. Data are expressed as percentage change comparing year Y with the year Y–5. Data source: national accounts statistics.Flags:b:Break in series. p:Provisional. 1) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.35: Export market share, volume (1 year % change) 

78 

2009201020112012201320142015201620172018BE-1.3 -2.6 -2.2 -3.6 -3.3 1.5 0.8 4.3 -0.3 -2.2 BG-1.7 -2.0 5.8 -1.1 5.9 -0.6 3.5 6.4 0.2 -1.7 CZ0.2 1.7 2.4 1.2 -3.5 5.0 3.1 2.1 1.1 1.0 DK0.8 -10.1 0.4 -1.9 -2.1 -0.6 0.7 1.7 -2.0 -3.0 DE-4.3 1.4 1.6 -0.2 -2.7 1.1 2.6 0.2 -0.7 -1.3 EE-10.3 11.2 17.4 1.7 -0.9 -1.1 -4.4 2.9 -1.8 0.9 IE14.6 -7.0 -3.6 -4.0 -0.8 10.9 36.4 1.9 3.6 7.0 EL-8.5 -8.1 -6.8p-1.9p-2.2p4.0p0.2p-4.0p1.2p5.3pES-0.8 -3.9 1.4 -2.2 0.7 0.8 1.4 3.2 0.0p-1.2pFR-0.9 -4.3 -0.4 -0.3 -1.6 -0.4 1.7 -0.4 -1.7p0.1pHR-3.8 -5.2 -4.5 -4.6 -1.2 3.7 7.4 4.9 1.3 4.0pIT-7.8 -1.2 -1.4 -1.1 -3.3 -1.1 1.4 -0.3 0.4 -1.6 CY5.3 -6.9 0.2 -3.6 -2.5 2.5 7.0 5.0 3.1 1.2pLV-2.9 0.4 5.2 6.7 -2.6 2.8 0.0 1.8 0.8 0.6 LT-2.8 2.9b7.7 7.7 3.6 -5.5 -0.5 2.7 8.0 2.9 LU-1.6 -2.6 -2.8 -0.3 1.6 12.7 1.8 0.4 -4.9 -2.9 HU-0.7 -1.9 -0.4 -4.8 0.4 5.5 4.5 1.6 1.3 0.9 MT9.6 -6.1 -5.2 3.8 -2.8 0.4 12.6 2.3 -0.8 -0.8 NL1.4 -3.3 -1.6 0.2 -1.2 0.8 4.5 -0.5 0.9 0.3pAT-4.4 0.1 -0.9 -1.7 -3.1 -0.8 0.1 0.9 -0.6 2.5 PL4.1 0.1 1.1 1.5 2.4 3.0 4.8 6.6 3.9 3.6 PT0.0 -3.8 0.1 0.0 3.5 0.6 3.4 2.2 2.8 0.4pRO4.3 2.5 5.3 -2.0 16.5 4.3 1.7 13.8 2.0 2.0pSI-6.6 -2.8 0.1 -2.6 -0.6 2.3 1.8 4.3 5.2 3.2 SK-6.4 4.3 3.8 6.0 2.3 0.0 3.7 2.8 -2.1 2.0 FI-10.1 -6.8 -4.8 -2.9 -3.1 -5.6 -2.3 1.5 3.2 -1.2 SE-4.3 -2.2 -0.1 -2.0 -4.8 0.6 3.4 0.6 -1.3 -0.3 UK2.2 -7.2 0.5 -2.5 -2.5 -2.7 0.9 0.5 0.5 -4.3 Theindicatoriscalculatedbysubtractingtheworldexportsvolumegrowthratefromthecountryexportsvolumegrowthrate.Eurostat'sNationalaccountsvolumesforexports(asforalltransactionsconcerninggoodsandservices)areestimatedinpreviousyearpricestoeliminatetheinfluenceofinflation.ThevolumegrowthrateisalwayscalculatedbycomparingtheyearYvolumeinpreviousyearpriceswiththeyearY-1figureincurrentprices.TheMIPindicatorisexpressedaspercentagechangecomparingyearYwithyearY-1.Country'sexportsofgoodsandservicesseriesarebasedonEurostatdata,whileworldexportsofgoodsandservicesonIMFdata,WorldEconomic Outlook (WEO).Flags:b:Break in series. p:Provisional. 1) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission calculation based on IMF data, World Economic Outlook (WEO) 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.36: Real labour productivity (1 year % change)  

79 

2009201020112012201320142015201620172018BE-1.9 2.2 0.4 0.3 0.8 1.2 1.1 0.3 0.3 0.1 BG-1.7 4.6 4.7 2.9p0.8p1.5p3.6p3.3p1.7p3.2pCZ-3.1 3.3 2.1 -1.2 -0.8 2.2 3.8 0.8 2.8 1.6 DK-1.8 4.3 1.4 0.9 0.9 0.7 1.0 0.9 0.6 -0.3 DE-5.8 3.8 2.7 -0.7 -0.4 1.3 0.8 1.0 1.1 0.2 EE-4.7 8.0 0.8 1.5 0.1 2.2 -1.0 2.3 3.0 3.5 IE3.0 6.1 2.6b0.8 -1.6 5.7 20.8 0.0 5.0 4.8 EL-3.8 -3.0 -2.4p-1.1p-0.6p-0.2p-1.2p-0.7p0.0p0.2pES2.7 1.9 1.8 1.1 1.0 0.3 1.0 0.9 0.2p0.1pFR-1.8 1.8 1.4 0.0 0.4 0.4 0.9 0.5 1.3p0.7pHR-6.7d2.4d3.7d1.4d2.1d-2.7d1.2d3.2d0.9d0.8dIT-3.7 2.4 0.4 -2.7 -0.1 -0.1 0.1 -0.1 0.5 -0.1 CY-2.0 1.4 0.1 0.1 -1.0 0.1 1.8 2.0 -0.9 0.0pLV0.1 2.3 4.7 2.6 0.0 3.3 1.8 2.1 3.8 3.0 LT-7.7 7.0b5.4 1.9 2.2 1.4 0.6 0.3 5.0 2.2 LU-5.4 3.0 -0.4 -2.7 1.8 1.7 1.7 1.5 -1.6 -0.6 HU-4.9 1.3 1.8 -2.3 0.7 -0.4 1.6 -1.5 2.4 2.7 MT-2.5 1.8 -1.6 0.0 0.8 3.2 6.5 1.3 -1.3 1.3 NL-2.8 2.0 0.7 -0.8 1.1 1.5 1.0 0.6 0.7p0.1pAT-3.3 1.1 1.3 -0.4 -0.3 -0.3 0.4 0.8 0.8 0.7 PL2.4 6.4b4.4 1.5 1.5 1.6 2.3 2.2 3.6 4.8pPT-0.4 3.2 0.3 0.0 2.0 -0.6 0.4 0.4 0.2 0.1pRO-1.9 -0.7 4.4 0.6 4.4 2.6 5.2 6.0 4.6 3.7pSI-6.0 3.5 2.6 -1.7 0.1 2.3 0.9 1.3 1.8 0.9 SK-3.6 7.3 1.1 1.8 1.5 1.3 2.8 -0.3 0.8 2.0 FI-5.7 3.8 0.9 -2.2 -0.1 0.1 0.6 2.2 2.0 -0.9 SE-2.2 5.5 0.7 -1.4 0.1 1.3 2.9 0.6 0.0 0.4 UK-2.7 1.7 1.0 0.4 1.0 0.2 0.6 0.4 0.9 0.2 ThelabourproductivityistheratioofGrossdomesticproduct(marketpricesinmillions,chain-linkedvolumesreferenceyear2010)tothetotalEmployment(domesticconcept).The'personsemployed'doesnotdistinguishbetweenfull-timeandpart-timeemployment.TheGDPperpersonemployedisintendedtogiveanoverallimpressionoftheproductivityofnationaleconomiesexpressedinrelationtotheEuropeanUnion(EU28)average.Theinput data are obtained through official national accounts' country data in the ESA 2010 transmission programme. The MIP indicator is expressed as percentage change comparing year Y with year Y-1. Flags:b:Break in series. d:Definition differs. p:Provisional. 1) HR d: employment data use national concept instead of domestic concept. 2) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.37: Gross non-performing loans, domestic and foreign entities (% of gross loans)  

80 

2009201020112012201320142015201620172018BEnanananana4.3e3.8e3.2e2.7e2.3pBGnanananana16.0e14.5e12.8e10.2e7.7pCZnanananananana4.0e2.8e2.1pDKnanananana5.1e3.9e3.3e2.5e2.3pDEnanananana3.9e3.0e2.6e1.8e1.4pEEnanananana3.2e2.2e1.7e1.9e1.3pIEnanananana21.6e14.9e13.1e9.9e5.5pELnanananana39.7e46.8e46.3e45.0e41.6pESnanananana8.1e6.3e5.7e4.4e3.7pFRnanananana4.2e4.0e3.6e3.1e2.7pHRnanananana13.6e13.0e10.7e8.8e7.3pITnanananana16.5e16.5e15.0e11.2e8.4pCYnanananana38.6e36.3e35.4e30.7e20.2pLVnanananana9.7e6.5e6.3e5.6e5.3pLTnanananana6.8e5.6e4.0e3.2e2.6pLUnanananana1.4e1.1e0.8e0.7e0.8pHUnanananana19.4e15.2e11.9e8.4e5.3pMTnanananana6.0e5.1e4.1e3.1e3.1pNLnanananana3.4e2.7e2.4e2.1e1.9pATnanananana7.5e6.5e5.1e3.5e2.6pPLnanananana7.2e6.6e6.4e6.6e6.2pPTnanananana16.6e17.5e17.2e13.3e9.4pROnanananana20.7e13.4e9.7e6.6e5.3pSInanananana22.8e17.9e12.3e9.2e6.0pSKnanananana5.2e4.4e4.6e3.7e3.2pFInanananana1.6e1.5e1.4e1.2e1.5pSEnanananana1.3e1.3e1.2e1.3e1.0pUKnanananana3.3ena1.9e1.5e1.2pAloan,otherthanheldfortrading,isconsideredasnon-performingifsatisfieseitherorbothofthefollowingcriteria:(a)Itisamaterialloanwhichismorethan90dayspast-due;(b)Thedebtorisassessedasunlikelytopayitscreditobligationsinfullwithoutrealisationofcollateral,regardlessoftheexistenceofanypast-dueamountorofthenumberofdayspast-due.Non-performingloansincludedefaultedandimpairedloans.TheMIPindicatorisdefinedastotalgrossnon-performingloansandadvancesas%oftotalgrossloansandadvances(grosscarryingamount),forthereportingsector"domesticbankinggroupsandstand-alonebanks,foreigncontrolledsubsidiaries and foreign controlled branches, all institutions". Data on domestically controlled banks are consolidated across borders and sectors.  Data source: European Central Bank (ECB). Flags:e:Estimated. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Central Bank 
 
 
 
 
 
 
 
 
 
Table 3.38: Unit labour cost performance relative to EA (10 year % change) 

81 

2009201020112012201320142015201620172018BE0.2 1.2 0.8 2.5 4.5 5.4 4.0 1.9 2.1 0.7 BG35.2 40.2 34.4 42.1 53.1 56.2 55.0 54.3 55.1 43.3 CZ10.8 11.1 7.2 3.0 1.0 -1.7 -1.8 0.1 0.9 5.0 DK10.7 11.7 8.4 5.6 4.9 5.5 4.5 3.0 -0.7 -2.2 DE-16.4 -16.1 -13.7 -10.7 -8.4 -5.7 -1.1 3.5 7.9 11.4 EE53.4 47.7 42.9 42.5 41.0 39.4 42.3 35.5 23.8 16.2 IE15.5 4.8 -5.2 -5.6 -8.7 -15.3 -31.0 -33.1 -38.1 -42.0 EL21.0 22.7 20.3 8.2 -0.7 -4.0 -12.1 -11.7 -13.0 -15.1 ES14.1 11.5 8.6 3.1 0.7 -2.4 -4.2 -8.0 -11.4 -14.5 FR-0.2 2.1 2.3 1.9 2.4 2.5 1.5 0.1 -0.3 -0.3 HR10.5 7.9 12.1 5.1 -0.7 -4.4 -7.3 -10.2 -14.1 -15.5 IT11.6 13.8 12.8 10.4 6.7 4.1 3.7 1.8 -0.5 -1.2 CY13.4 13.2 15.0 15.1 2.9 -1.8 -6.7 -9.2 -9.1 -9.7 LV60.3 48.9 47.5 56.0 58.7 56.5 44.9 31.8 7.8 -4.4 LT0.3 4.6 10.2 9.6 13.1 12.0 12.1 7.3 8.9 7.9 LU21.4 19.1 15.6 17.4 17.2 16.1 13.5 12.1 17.9 13.4 HU47.1 34.1 23.6 20.0 13.2 9.0 3.3 6.2 5.2 9.1 MT6.8 9.9 9.9 13.6 12.8 8.0 9.2 6.4 5.5 4.5 NL6.3 3.7 3.8 1.6 0.4 0.3 -0.1 -0.2 -1.9 -1.8 AT-3.7 -1.5 -0.8 1.7 3.7 5.8 6.6 6.3 5.6 4.7 PL-3.7 -3.2 -7.5 -3.4 0.5 2.2 1.3 4.2 3.4 -0.1 PT4.0 0.6 -3.6 -8.5 -8.9 -9.8 -11.6 -10.2 -8.2 -6.6 RO289.1 169.8 74.5 79.8 46.2 50.5 21.1 25.1 33.3 25.9 SI36.0 29.5 18.8 12.7 9.3 4.0 3.2 3.4 2.2 -0.3 SK22.6 12.5 11.4 7.5 4.8 2.3 -0.1 -0.9 3.2 3.9 FI2.0 2.3 3.4 7.5 9.7 10.6 9.8 7.1 4.4 1.9 SE5.9 0.8 -0.1 2.6 4.5 6.3 6.4 8.1 6.7 6.2 UK9.3 10.2 7.8 8.8 9.6 6.3 7.2 5.6 5.0 7.8 Therelativeunitlabourcost(ULC)seriesmeasuresthetradingpositionofanindividualcountryrelativetoitspartnersintheeuroareaandassuchoffersanindicationaboutchangesinitscompetitiveposition.Themeasuretakesintoaccountnotonlychangesinmarketexchangerates,butalsovariationsinrelativepricelevelsbasedontheunitlabourcostandthereforecanbeusedasindicatorsofcompetitiveness.Thedataareexpressedas10year % change.(cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFIN 
 
 
 
 
 
 
 
 
 
 
Table 3.39: House price index (2015=100) - nominal (3 year % change) 

82 

2009201020112012201320142015201620172018BE12.0 7.2 6.8 9.7 7.6 2.9 2.3p3.8p8.2 9.4pBG28.2e-10.6e-32.4e-16.7e-9.3 -2.7 2.0b11.6 19.5 24.0 CZ29.5e6.6e-5.5 -3.1 -1.4 0.9 6.5p14.2p24.4p30.0pDK-14.3 -14.2 -11.0 -1.7 -0.6 4.9 15.3 16.8 17.7 14.8 DE0.0 3.3 5.5 8.2 10.4 10.0 11.4 16.1 19.5 21.7 EE-31.5 -40.0 -28.0 23.0 28.8 35.0 34.5 27.3 18.1 17.1 IE-19.1 -34.9 -42.0 -37.9 -27.3 2.1 31.5 39.6 32.8 31.4 EL3.7e-6.7e-13.2e-20.4e-25.5e-27.1e-21.6e-14.2e-8.2e-1.9eES1.1 -9.6 -15.3 -22.7 -28.5 -22.3 -5.6 8.7 15.1 18.6 FR0.0 -0.9 4.0 10.3 3.2 -4.0 -4.9 -2.1 2.6 7.2 HR9.5e-8.4e-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 1.7 11.1 IT7.2e2.9be1.6e-0.5e-7.6 -13.1 -14.3 -8.1 -4.6 -1.4 CY10.3 -6.9 -13.3 -10.1 -8.5 -8.7 -7.1b-2.9 1.0 4.4 LV-13.6 -43.6 -38.4 1.2 21.5 16.6 9.5 11.1 14.0 29.3 LT-3.5 -29.3 -30.8 -1.5 7.7 7.5 11.7 16.3 19.0 23.2 LU9.3e7.7 8.0 13.9 13.4 14.2 15.5 16.6 18.0 19.9 HUna-5.3 -10.7 -9.2 -9.4 -2.2 14.8 33.6 43.9 45.5 MT28.6 7.4 -4.6 2.7 1.2 5.2 8.1 14.4 17.5 17.5pNL2.4 -4.0 -8.0 -10.1 -14.0 -11.6 -1.8 9.7 17.0 23.6 AT9.9e11.5be17.3e21.1e19.9 16.8 14.2 17.8 19.9 19.6 PL43.4e-7.2 -6.4e-7.0e-7.6 -6.8 -2.0 4.4 7.4 12.7 PT4.2e3.6e-5.1 -11.0 -13.3 -4.9 5.4 15.1 20.6 29.0 ROnana-38.2e-23.0 -17.0 -7.3 0.5 6.7 15.6 18.6 SI19.8e-3.0 -6.9 -4.2 -9.4 -17.6 -10.8 -2.8 12.5 22.5 SK32.7 -1.2 -17.5 -8.0 -3.3 -0.4 7.8 14.0 19.0 21.3 FI8.3 8.7 11.3 12.3 6.9 3.2 0.8 0.1 2.0 2.9 SE17.3 12.5 14.1 12.1 9.2 16.5 30.2 34.0 30.6 14.4 UK-4.4 -8.0 -5.1 4.6 1.5 11.2 17.4 22.5 18.5 15.4 TheHousepriceindex(HPI)capturespricechangesofallresidentialpropertiespurchasedbyhouseholds(flats,detachedhouses,terracedhouses,etc.),bothnewandexisting,independentlyoftheirfinaluseandtheirpreviousowners. Only market prices are considered, self-build dwellings are therefore excluded. The land component is included. The data are expressed as 3 years % change of the HPI. The indicator is based on Price statistics.Flags:b:Break in series. e:Estimated. p:Provisional. 1) e = NSI estimates for BG, CZ, PL, RO and SI; e = source NCB for EL, HR, IT, PT and AT; e = NSI&NCB estimates for LU; b = break in time series due to full implementation of harmonised EU methodology for BG and CY(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.40: Residential construction (% of GDP) 

83 

2009201020112012201320142015201620172018BE6.1 6.1 5.8 5.9 5.7 5.9 5.7 5.7 5.7 5.8 BG4.7 2.7 2.2 1.7 1.7 1.6 1.4 2.7 2.9 2.7 CZ3.8 4.0 3.7 3.7 3.2 3.4 3.6 3.7 3.9 4.0 DK4.2 3.7 4.3 4.1 3.7 3.9 4.0 4.3 4.7 4.8 DE5.2 5.2 5.6 5.9 5.9 5.9 5.8 6.0 6.0 6.3 EE3.1 2.6 2.7 2.9 3.4 3.8 4.0 4.5 4.6 4.6 IE4.7 3.0 2.0 1.5 1.6 1.8 1.4 1.8 2.1 2.4 EL6.5 5.0 4.6p3.1p2.2p1.0p0.7p0.6p0.6p0.7pES7.7 6.6 5.4 4.6 3.9 4.2 4.0 4.4 4.8p5.3pFR6.3 6.3 6.4 6.2 6.1 6.0 5.9 6.0 6.3p6.4pHRnanananananananananaIT5.5 5.5 5.2 4.9 4.7 4.3 4.1 4.1 4.1 4.2 CY9.8 8.0 6.2 4.9 4.1 3.9 3.6 4.4 5.1 5.8pLV2.4 1.7 1.9 2.2 2.2 2.5 2.4 2.1 2.1 2.2 LT3.3 2.1b2.0 1.9 2.2 2.5 2.8 3.0 2.7 2.7 LU3.5 2.9 3.0 3.2 3.6 3.8 4.0 4.0 3.6 3.8 HU4.1 3.1 2.2 2.0 1.8 1.9 2.2 2.4 2.7 3.0 MT4.3 3.4 3.4 3.0 2.6 2.4 2.8 3.5 4.7 5.2 NL5.6 4.7 4.2 3.5 3.0 3.1 3.5 4.1 4.5 4.8pAT4.3 4.3 4.4 4.3 4.3 4.3 4.3 4.3 4.5 4.5 PL3.4 3.2 3.0 3.2 3.0 3.0 2.5 2.4 2.2 2.0 PT4.1 3.6 3.3 3.0 2.5 2.5 2.4 2.6 2.8 3.0pRO2.8 2.9 2.7 3.1 2.4 2.4 2.4 2.6 2.7 3.5pSI3.8 3.1 2.8 2.5 2.4 2.2 2.1 2.1 2.1 2.1 SK3.4 2.8 2.8 2.9 3.2 2.7 2.5 3.1 3.2 3.4 FI5.4 6.3 6.6 6.7 6.4 6.0 6.0 6.6 6.9 7.3 SE3.3 3.7 4.0 3.5 3.6 4.2 4.7 5.3 5.7 5.4 UK3.1 3.2 3.2 3.1 3.2 3.4 3.5 3.5 3.7 3.8 ResidentialConstructiontrackstheactualconstruction(notsales)ofhousingandispartofGrossfixedcapitalformation.GFCFconsistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.Datasourcefromnationalaccountsstatistics,usingasadenominatorGDPfromtheESA2010transmission programme. Flags:b:Break in series. p:Provisional. 1) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.41: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP)   

84 

2009201020112012201320142015201620172018BE51.9 52.7 54.4 54.9 55.8 57.9 58.7 59.0 59.8 60.9 BG29.5 28.7 26.5 25.5 25.6 25.2 23.8 23.2 22.9 23.4 CZ28.5 29.0 30.0 30.9 31.7 30.5 30.4 31.3 29.7 32.3 DK142.5 138.3 138.4 136.3 133.3 131.5 128.9 129.1 127.7 126.4 DE62.1 59.4 57.1 56.6 55.7 54.2 53.5 53.3 53.3 53.6 EE57.4 53.0 45.6 41.9 40.1 38.9 39.7 40.1 39.6 38.9 IE116.2 110.2 104.7 98.5 93.2 81.0 56.5 52.1 46.8 41.7 EL52.0 61.2 63.8 64.8 65.5 63.4 61.9 60.0 56.8 56.5 ES85.0 84.4 82.5 81.6 77.8 73.4 68.0 64.5 61.2 59.0 FR52.6 53.7 54.8 55.1 55.6 55.6 56.1 57.1 58.5 60.0 HR39.9 41.8 41.4 41.1 40.2 40.0 38.4 35.1 34.2 34.2 IT42.5 43.6 43.8 44.0 43.5 42.7 41.9 41.3 41.0 41.0 CY113.5 118.4 121.9 127.9 129.6 131.6 127.3 116.6 105.1 97.0 LV50.8 49.7 40.3 32.7 29.2 26.4 24.6 23.7 22.2 20.8 LT32.6 29.6 25.8 23.7 22.4 21.5 22.2 22.8 22.4 22.9 LU58.2 57.9 57.7 61.0 60.2 60.8 61.9 63.7 66.2 66.3 HU37.5 39.4 37.3 31.5 28.0 25.5 21.3 20.3 18.8 18.0 MT60.3 59.6 60.3 61.0 59.8 56.8 52.8 52.1 50.4 49.4 NL117.2 118.0 117.5 117.4 114.6 112.8 110.6 108.9 106.0 102.4pAT53.5 54.6 53.2 52.0 51.2 51.0 50.8 51.1 50.2 49.6 PL31.6 34.2 35.1 34.1 35.1 35.6 36.0 36.6 34.9 35.1 PT92.1 90.7 90.5 90.4 86.1 81.7 76.7 72.1 69.1 66.9 RO21.4 22.8 21.7 20.7 19.2 18.0 17.4 16.7 16.1 16.0 SI28.4 30.3 29.9 30.7 29.6 28.3 27.6 27.3 27.2 27.0 SK23.7 24.8 26.4 28.4b29.7 32.5 34.7 38.3 41.0 42.1 FI57.5 59.2 59.4 61.4 61.8 62.9 63.7 64.9 65.0 65.4 SE75.8 76.0 76.7 79.5 81.5 82.4 82.7 85.7 87.4 87.9 UK95.7 93.1 90.2 88.9 86.5 84.8 85.4 86.3 86.1 87.2 TheHouseholddebtisthestockofliabilitiesheldbythesectorHouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentsthataretakenintoaccounttocompilesuchindicatorareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.nottakingintoaccounttransactionswithinthesamesector,andexpressedin%ofGDPandmillionsofnationalcurrency.Definitionsregardingsectorandinstruments are based on ESA 2010. Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) 

85 

2009201020112012201320142015201620172018BE22.2e20.1e21.7e17.4e15.7e15.1e14.7e14.2e13.2e13.1pBG7.5e7.4e7.4e7.6e7.8e7.9e7.7e7.7e7.7e7.5pCZ12.1e11.9e11.8e10.4e10.8e10.0e10.1e10.7e12.4e12.5pDK22.2e21.8e21.1e20.3e18.4e18.4e16.7e16.7e16.4e16.4pDE26.6e25.8e25.7e23.5e20.3e19.2e18.6e18.4e14.1e13.9pEE14.2e12.4e8.1e7.1e6.8e6.6e7.7e7.7e6.8e6.9pIE20.9e21.1e17.7e15.8e15.0e9.1e7.8e7.4e6.6e6.7pEL14.6e15.4ena26.6e14.0e12.8e11.0e10.1e8.8e11.5pES16.4e17.2e17.4e17.9e14.9e14.0e13.7e13.2e13.5e13.6pFR20.7e20.1e21.1e20.1e18.1e18.9e17.3e16.0e15.2e15.3pHRnananana7.5e7.2e8.0e7.2e7.4e7.5pIT12.8e12.7e14.9e14.4e15.0e14.0e13.1e14.2e12.2e13.1pCY17.2e15.2e19.9e26.0e16.2e10.3e10.7e10.7e12.1e14.1pLV13.2e12.7e10.7e10.2e9.9e10.2e9.5e9.9e8.9e7.8pLT17.8e14.2e11.3e10.2e9.6e9.7e9.0e11.6e10.7e10.4pLU18.5e16.8e17.7e15.1e13.9e13.4e13.4e13.4e13.2e14.6pHU13.4e12.3e13.5e11.5e10.7e10.9e11.2e9.9e9.7e9.4pMT9.5e5.0e5.1e5.0e6.6e11.9e14.1e15.8e13.5e12.1pNL23.2e23.2e24.2e22.3e20.8e18.5e18.0e17.7e16.7e16.1pAT15.4e13.8e14.7e13.5e13.4e14.2e13.5e12.5e11.6e11.4pPL9.3e10.0e9.9e9.1e9.0e9.3e9.2e9.4e8.8e9.3pPT16.1e16.2e19.6e15.5e14.8e13.7e12.4e12.9e10.6e11.0pRO11.0e10.1e10.0e9.7e9.7e10.5e9.8e9.8e9.6e9.3pSI12.9e13.2e13.3e12.9e11.3e9.3e8.6e8.0e8.0e8.2pSK10.5e10.4e9.4e8.5e8.2e8.4e9.0e9.2e9.3e9.5pFI16.8e19.6e26.1e26.3e21.7e24.3e19.1e17.7e18.9e16.1pSE22.8e22.4e24.1e22.1e21.3e20.6e18.8e17.6e16.5e18.8pUK22.0e20.8e20.5e19.1e17.9e17.9e15.6e15.1e15.0e15.3pTheindicator,coveringthebankingsectoronly,isdefinedastotalassetsdividedbytotalequity,forthereportingsector"domesticbankinggroupsandstand-alonebanks,foreigncontrolledsubsidiariesandforeigncontrolledbranches, all institutions, full sample (all banking groups / stand-alone banks irrespective of their accounting /supervisory framework)". Data source: European Central Bank (ECB).Flags:e:Estimated. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Central Bank 
 
 
 
 
 
 
 
 
Table 3.43: Employment rate (1 year % change)  

86 

2009201020112012201320142015201620172018BE-0.2 0.6 1.3 0.4 -0.3 0.4 0.9 1.3 1.6 1.4 BG-1.7 -3.9 -2.2 -2.5p-0.4p0.4p0.4p0.5p1.8p-0.1pCZ-1.8 -1.0 -0.3 0.4 0.3 0.6 1.4 1.6 1.6 1.3 DK-3.1 -2.3 0.0 -0.7 0.0 0.9 1.4 1.5 1.7 1.8 DE0.2 0.4 1.2 1.1 0.8 0.9 0.9 1.2 1.4 1.4 EE-10.2 -4.9 6.5 1.6 1.2 0.8 2.9 0.3 2.7 1.2 IE-7.8 -4.1 -2.2b-0.5 2.9 2.7 3.6 3.7 3.0 3.2 EL-0.6 -2.6 -6.9p-6.3p-2.6p0.9p0.7p0.5p1.5p1.7pES-6.3 -1.7 -2.5 -4.0 -2.4 1.0 2.8 2.1 2.7p2.2pFR-1.1 0.1 0.8 0.3 0.2 0.5 0.2 0.6 1.0p1.0pHR-0.7d-3.8d-3.9d-3.6d-2.6d2.7d1.2d0.3d2.2d1.8dIT-1.6 -0.6 0.3 -0.3 -1.8 0.1 0.7 1.4 1.2 0.9 CY0.0 0.6 0.3 -3.5 -5.6 -2.0 1.6 4.7 5.3 4.1pLV-14.3 -6.7 1.5 1.4 2.3 -1.3 1.4 -0.3 0.0 1.6 LT-7.7 -5.2b0.6 1.9 1.4 2.0 1.4 2.3 -0.7 1.4 LU1.0 1.8 3.0 2.4 1.8 2.6 2.6 3.0 3.4 3.7 HU-1.9 -0.7 0.0 0.9 1.3 4.6 2.2 3.7 1.9 2.4 MT0.0 1.7 2.9 2.8 3.8 5.4 4.1 4.3 8.1 5.4 NL-0.9 -0.7 0.9 -0.2 -1.2 -0.1 1.0 1.5 2.2p2.5pAT-0.5 0.8 1.6 1.0 0.3 1.0 0.6 1.3 1.7 1.7 PL0.4 -2.7b0.6 0.1 -0.1 1.7 1.5 0.8 1.3 0.3pPT-2.7 -1.4 -1.9 -4.1 -2.9 1.4 1.4 1.6 3.3 2.3pRO-3.7 -3.2 -2.3 1.4 -0.9 0.8 -1.3 -1.1 2.4 0.2pSI-1.6 -2.1 -1.7 -0.9 -1.1 0.4 1.3 1.8 3.0 3.2 SK-2.0 -1.5 1.8 0.1 -0.8 1.4 2.0 2.4 2.2 2.0 FI-2.5 -0.6 1.6 0.9 -0.8 -0.4 -0.1 0.5 1.0 2.6 SE-2.1 0.6 2.3 0.7 1.0 1.4 1.5 1.9 2.5 1.9 UK-1.6 0.2 0.5 1.1 1.2 2.4 1.7 1.5 1.0 1.2 Personsinemploymentarethosewho,duringthereferenceweek,didanyworkforpayorprofit,orwerenotworkingbuthadajobfromwhichtheyweretemporarilyabsent.Anyonewhoreceivesawageforon-the-jobtrainingthatinvolvestheproductionofgoodsorservicesisalsoconsideredasbeinginemployment.Self-employedandfamilyworkersarealsoincluded.Datapresentemploymentinresidentproductionunitsirrespectiveoftheplaceofresidenceoftheemployedperson(i.e.domesticscope).Employmentratesrepresentemployedpersonsaged15-64,asapercentageofthesameagepopulationanditismeasuredinnumberofpersonswithoutdistinctionaccording to full-time or part-time work. Data are sourcing from national accounts statistics.Flags:b:Break in series. d:Definition differs. p:Provisional. 1) HR d: employment growth relates to the use of national concept instead or domestic concept for employment data. 2) 2010 LT: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.44: Young people neither in employment nor in education and training - % of total population aged 15-24 

87 

2009201020112012201320142015201620172018BE11.1 10.9 11.8b12.3 12.7 12.0 12.2 9.9 9.3b9.2 BG19.5 21.0b21.8 21.5 21.6 20.2 19.3 18.2 15.3 15.0 CZ8.5 8.8 8.3b8.9 9.1b8.1 7.5 7.0 6.3 5.6 DK5.4 6.0 6.3 6.6 6.0 5.8 6.2 5.8b7.0b6.8 DE8.8 8.3b7.5b7.1 6.3 6.4 6.2 6.7 6.3 5.9 EE14.5b14.0 11.6 12.2 11.3 11.7 10.8 9.1 9.4 9.8 IE18.3 19.4 19.1 19.2 16.4 15.3 14.3 12.6 10.9b10.1 EL12.4b14.8 17.4 20.2 20.4 19.1 17.2 15.8 15.3 14.1 ES18.1 17.8 18.2 18.6 18.6 17.1b15.6 14.6 13.3 12.4 FR12.7 12.7 12.3 12.5 11.2b11.2b12.0 11.9 11.5 11.1 HR13.4 15.7 16.2 16.6 19.6 19.3 18.1 16.9 15.4 13.6 IT17.6 19.0 19.7 21.0 22.2 22.1 21.4 19.9 20.1 19.2 CY9.9b11.7 14.6 16.0 18.7 17.0 15.3 16.0 16.1 13.2 LV17.5 17.8 16.0 14.9 13.0 12.0 10.5 11.2 10.3 7.8 LT12.1 13.2 11.8 11.2 11.1 9.9 9.2 9.4 9.1 8.0 LU5.8b5.1 4.7 5.9 5.0 6.3 6.2b5.4 5.9 5.3 HU13.6 12.6 13.2 14.8 15.5 13.6 11.6b11.0 11.0 10.7 MT9.9 9.5 10.2 10.8 9.9 10.3 10.5 8.8 8.6b7.3 NL5.0 4.8 4.3 4.9 5.6b5.5 4.7 4.6 4.0 4.2 AT8.2 7.4 7.3 6.8 7.3 7.7 7.5 7.7 6.5 6.8 PL10.1 10.8b11.5 11.8 12.2b12.0 11.0 10.5 9.5 8.7bPT11.2 11.4 12.6b13.9 14.1 12.3 11.3 10.6 9.3 8.4 RO13.9 16.6b17.5 16.8 17.0 17.0 18.1 17.4 15.2 14.5 SI7.5 7.1 7.1 9.3 9.2 9.4 9.5 8.0 6.5 6.6 SK12.5 14.1 13.8b13.8 13.7 12.8 13.7 12.3 12.1 10.2 FI9.9 9.0 8.4 8.6 9.3 10.2 10.6 9.9 9.4 8.5 SE9.6 7.7 7.5 7.8 7.5 7.2 6.7 6.5 6.2 6.1 UK13.2 13.6 14.2 13.9 13.2 11.9 11.1 10.9 10.3 10.4 Theindicatoryoungpeopleneitherinemploymentnorineducationandtraining(NEET)providesinformationonyoungpeopleaged15to24whomeetthefollowingtwoconditions:(a)theyarenotemployed(i.e.unemployedorinactiveaccordingtotheInternationalLabourOrganisationdefinition)and(b)theyhavenotreceivedanyeducationortraininginthefourweeksprecedingthesurvey.Dataareexpressedasapercentageofthetotalpopulationinthe same age group, excluding the respondents who have not answered the question 'participation to education and training'. Data come from the quarterly EU Labour Force Survey (EU LFS).Flags:b:Break in series. 1)2018PL:changesintheweightingprocedure.2)2017BE:revisioninthesurveymethodology;MT:changesintheweightingprocedure;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016).3)2015LU:changeinsamplingstrategyanddatacollectiontechnique.4)2014ES:changeintheclassificationofnon-formaleducationactivities;FR:dataarefurther impacted from the changes in the questionnaire introduced in 2013 and inclusion of French overseas departments (DROM).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
Table 3.45: People at risk of poverty or social exclusion - % of total population 

88 

2009201020112012201320142015201620172018BE20.2 20.8 21.0 21.6 20.8 21.2 21.1 20.7 20.3 19.8 BG46.2 49.2 49.1 49.3 48.0 40.1b41.3 40.4b38.9 32.8 CZ14.0 14.4 15.3 15.4 14.6 14.8 14.0 13.3 12.2 12.2 DK17.6 18.3 17.6b17.5 18.3 17.9 17.7 16.8 17.2 17.4 DE20.0 19.7 19.9 19.6 20.3 20.6 20.0 19.7 19.0 18.7 EE23.4 21.7 23.1 23.4 23.5 26.0b24.2 24.4 23.4 24.4 IE25.7 27.3 29.4 30.1 29.9 27.7 26.2 24.4 22.7 naEL27.6 27.7 31.0 34.6 35.7 36.0 35.7 35.6 34.8 31.8 ES24.7 26.1 26.7 27.2 27.3 29.2 28.6 27.9 26.6 26.1 FR18.5 19.2 19.3 19.1 18.1 18.5 17.7 18.2 17.0 17.4 HRna31.1 32.6 32.6 29.9 29.3 29.1 27.9 26.4 24.8 IT24.9 25.0 28.1 29.9 28.5 28.3 28.7 30.0 28.9 27.3 CY23.5 24.6 24.6 27.1 27.8 27.4 28.9 27.7 25.2 23.9 LV37.9 38.2 40.1 36.2 35.1 32.7 30.9 28.5 28.2 28.4 LT29.6 34.0 33.1 32.5 30.8 27.3 29.3 30.1 29.6 28.3 LU17.8 17.1 16.8 18.4 19.0 19.0 18.5 19.8b21.5 21.9 HU29.6 29.9 31.5 33.5 34.8 31.8 28.2 26.3 25.6 19.6 MT20.3 21.2 22.1 23.1 24.6 23.9 23.0 20.3 19.3 19.0 NL15.1 15.1 15.7 15.0 15.9 16.5 16.4 16.7b17.0 16.7 AT19.1 18.9 19.2 18.5 18.8 19.2 18.3 18.0 18.1 17.5 PL27.8 27.8 27.2 26.7 25.8 24.7 23.4 21.9 19.5 18.9 PT24.9 25.3 24.4 25.3 27.5 27.5 26.6 25.1 23.3 21.6 RO43.0 41.5 40.9 43.2 41.9 40.3 37.4 38.8 35.7 32.5 SI17.1 18.3 19.3 19.6 20.4 20.4 19.2 18.4 17.1 16.2 SK19.6 20.6 20.6 20.5 19.8 18.4 18.4 18.1 16.3 naFI16.9 16.9 17.9 17.2 16.0 17.3 16.8 16.6 15.7 16.5 SE17.8 17.7 18.5 17.7 18.3 18.2 18.6 18.3 17.7 18.0 UK22.0 23.2 22.7 24.1b24.8 24.1 23.5 22.2 22.0bnaThisindicatorcorrespondstothepercentage(oftotalpopulation)ofpeoplewhoare:atriskofpovertyorseverelymateriallydeprivedorlivinginhouseholdswithverylowworkintensity.Personsareonlycountedonceeveniftheyarepresentinseveralsub-indicators.Atrisk-of-povertyarepersonswithanequivaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequivaliseddisposableincome(aftersocialtransfers).Materialdeprivationcoversindicatorsrelatingtoeconomicstrainanddurables.Severelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources,theyexperienceatleast4outof9deprivationsitems.Peoplelivinginhouseholdswithverylowworkintensityarethoseaged0-59livinginhouseholdswheretheadults(aged18-59)worklessthan20%oftheirtotalworkpotentialduringthepastyear.Students are excluded. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9) Flags:b:Break in series. 1)Officialtransmissiondeadlinefor2018datais30November2019whiledatawereextractedon25October2019.2)Cautionshouldbetakenintimecomparisons.ForBGtheincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesizefrom5200(interviewedhouseholds)to7800,theaveragesamplesizeofnewrotationalgroupsisunchanged(around2500households).Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime.ForLU,in2016newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister.ForNL,anewweightingschemehasbeenappliedfromEU-SILC2016onwards(AROP/AROPE).ForUK:significantchangeinmicrodatacollectionpracticesacrossmostSILCvariables,partialresponsesfromtheSLCareincluded,withitem-by-itemimputationusedtoadjustindividual non-response as well as change in calibration variables used.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.46: People at risk of poverty after social transfers - % of total population 

89 

2009201020112012201320142015201620172018BE14.6 14.6 15.3 15.3 15.1 15.5 14.9 15.5 15.9 16.4 BG21.8 20.7 22.2 21.2 21.0 21.8 22.0 22.9b23.4 22.0 CZ8.6 9.0 9.8 9.6 8.6 9.7 9.7 9.7 9.1 9.6 DK13.1 13.3 12.1 12.0 11.9 12.1 12.2 11.9 12.4 12.7 DE15.5 15.6 15.8 16.1 16.1 16.7 16.7 16.5 16.1 16.0 EE19.7 15.8 17.5 17.5 18.6 21.8 21.6 21.7 21.0 21.9 IE15.0 15.2 15.2 16.3 15.7 16.4 16.2 16.8 15.6 naEL19.7 20.1 21.4 23.1 23.1 22.1 21.4 21.2 20.2 18.5 ES20.4 20.7 20.6 20.8 20.4 22.2 22.1 22.3 21.6 21.5 FR12.9 13.3 14.0 14.1 13.7 13.3 13.6 13.6 13.2 13.4 HRna20.6 20.9 20.4 19.5 19.4 20.0 19.5 20.0 19.3 IT18.4 18.7 19.8 19.5 19.3 19.4 19.9 20.6 20.3 20.3 CY15.8 15.6 14.8 14.7 15.3 14.4 16.2 16.1 15.7 15.4 LV26.4 20.9 19.0 19.2 19.4 21.2 22.5 21.8 22.1 23.3 LT20.3 20.5 19.2 18.6 20.6 19.1 22.2 21.9 22.9 22.9 LU14.9 14.5 13.6 15.1 15.9 16.4 15.3 16.5b18.7 18.3 HU12.4 12.3 14.1 14.3 15.0 15.0 14.9 14.5 13.4 12.8 MT14.9 15.5 15.6 15.1 15.8 15.8 16.6 16.5 16.7 16.8 NL11.1 10.3 11.0 10.1 10.4 11.6 11.6 12.7b13.2 13.3 AT14.5 14.7 14.5 14.4 14.4 14.1 13.9 14.1 14.4 14.3 PL17.1 17.6 17.7 17.1 17.3 17.0 17.6 17.3 15.0 14.8 PT17.9 17.9 18.0 17.9 18.7 19.5 19.5 19.0 18.3 17.3 RO22.1 21.6 22.3 22.9 23.0 25.1 25.4 25.3 23.6 23.5 SI11.3 12.7 13.6 13.5 14.5 14.5 14.3 13.9 13.3 13.3 SK11.0 12.0 13.0 13.2 12.8 12.6 12.3 12.7 12.4 naFI13.8 13.1 13.7 13.2 11.8 12.8 12.4 11.6 11.5 12.0 SE14.4 14.8 15.4 15.2 16.0 15.6 16.3 16.2 15.8 16.4 UK17.3 17.1 16.2 16.0 15.9 16.8 16.6 15.9 17.0bnaTheindicatormeasurespersonswithanequivaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequivaliseddisposableincome(aftersocialtransfers)asa%oftotalpopulation. Data are expressed in percent of total population. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. 1)Officialtransmissiondeadlinefor2018datais30November2019whiledatawereextractedon25October2019.2)Cautionshouldbetakenintimecomparisons.ForBGtheincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesizefrom5200(interviewedhouseholds)to7800,theaveragesamplesizeofnewrotationalgroupsisunchanged(around2500households).Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime.ForLU,in2016newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister.ForNL,anewweightingschemehasbeenappliedfromEU-SILC2016onwards(AROP/AROPE).ForUK:significantchangeinmicrodatacollectionpracticesacrossmostSILCvariables,partialresponsesfromtheSLCareincluded,withitem-by-itemimputationusedtoadjustindividual non-response as well as change in calibration variables used.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.47: Severely materially deprived people - % of total population 

90 

2009201020112012201320142015201620172018BE5.2 5.9 5.7 6.3 5.1 5.9 5.8 5.5 5.1 4.9 BG41.9 45.7 43.6 44.1 43.0 33.1 34.2 31.9b30.0 20.9 CZ6.1 6.2 6.1 6.6 6.6 6.7 5.6 4.8 3.7 2.8 DK2.3 2.7 2.3 2.7 3.6 3.2 3.7 2.6 3.1 3.4 DE5.4 4.5 5.3 4.9 5.4 5.0 4.4 3.7 3.4 3.1 EE6.2 9.0 8.7 9.4 7.6 6.2 4.5 4.7 4.1 3.8 IE6.1 5.7 7.8 9.9 9.9 8.4 7.5 6.7 5.2 naEL11.0 11.6 15.2 19.5 20.3 21.5 22.2 22.4 21.1 16.7 ES4.5 4.9 4.5 5.8 6.2 7.1 6.4 5.8 5.1 5.4 FR5.6 5.8 5.2 5.3 4.9 4.8 4.5 4.4 4.1 4.7 HRna14.3 15.2 15.9 14.7 13.9 13.7 12.5 10.3 8.6 IT7.3 7.4 11.1 14.5 12.3 11.6 11.5 12.1 10.1 8.5 CY9.5 11.2 11.7 15.0 16.1 15.3 15.4 13.6 11.5 10.2 LV22.1 27.6 31.0 25.6 24.0 19.2 16.4 12.8 11.3 9.5 LT15.6 19.9 19.0 19.8 16.0 13.6 13.9 13.5 12.4 11.1 LU1.1 0.5 1.2 1.3 1.8 1.4 2.0 1.6b1.2 1.3 HU20.3 21.6 23.4 26.3 27.8 24.0 19.4 16.2 14.5 10.1 MT5.0 6.5 6.6 9.2 10.2 10.3 8.5 4.4 3.3 3.0 NL1.4 2.2 2.5 2.3 2.5 3.2 2.6 2.6b2.6 2.4 AT4.6 4.3 4.0 4.0 4.2 4.0 3.6 3.0 3.7 2.8 PL15.0 14.2 13.0 13.5 11.9 10.4 8.1 6.7 5.9 4.7 PT9.1 9.0 8.3 8.6 10.9 10.6 9.6 8.4 6.9 6.0 RO32.1 30.5 29.5 31.1 29.8 25.9 22.7 23.8 19.7 16.8 SI6.1 5.9 6.1 6.6 6.7 6.6 5.8 5.4 4.6 3.7 SK11.1 11.4 10.6 10.5 10.2 9.9 9.0 8.2 7.0 naFI2.8 2.8 3.2 2.9 2.5 2.8 2.2 2.2 2.1 2.8 SE2.0 1.9 1.7 1.8 1.9 1.0 1.1 0.8 1.1 1.6 UK3.3u4.8 5.1 7.8 8.3 7.4 6.1 5.2 4.1b4.6pSeverelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources.Theyexperiencealackofatleast4outofthe9followingdeprivationsitems:i)topayrentorutilitybills,ii)keephomeadequatelywarm,iii)faceunexpectedexpenses,iv)eatmeat,fishoraproteinequivalenteverysecondday,v)aweekholidayawayfromhome,vi)acar,vii)awashingmachine,viii)acolourTV,orix)atelephone.Dataareexpressed in percentage of total population. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. p:Provisional. u:Low reliability. 1)Officialtransmissiondeadlinefor2018datais30November2019whiledatawereextractedon25October2019.2)Cautionshouldbetakenintimecomparisons.ForBGtheincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesizefrom5200(interviewedhouseholds)to7800,theaveragesamplesizeofnewrotationalgroupsisunchanged(around2500households).Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime.ForLU,in2016newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister.ForNL,anewweightingschemehasbeenappliedfromEU-SILC2016onwards(AROP/AROPE).ForUK:significantchangeinmicrodatacollectionpracticesacrossmostSILCvariables,partialresponsesfromtheSLCareincluded,withitem-by-itemimputationusedtoadjustindividual non-response as well as change in calibration variables used.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.48: People living in households with very low work intensity - % of total population aged 0-59  

91 

2009201020112012201320142015201620172018BE12.3 12.7 13.8 13.9 14.0 14.6 14.9 14.6 13.5 12.1 BG6.9 8.0 11.0 12.5 13.0 12.1 11.6 11.9b11.1 9.0 CZ6.0 6.4 6.6 6.8 6.9 7.6 6.8 6.7 5.5 4.5 DK8.8 10.6 10.5 10.2 11.9 12.2 11.6 10.7 10.0 11.1 DE10.9 11.2 11.2 9.9 9.9 10.0 9.8 9.6 8.7 8.1 EE5.6 9.0 10.0 9.1 8.4 7.6b6.6 5.8 5.8 5.2 IE20.0 22.9 24.2 23.4 23.9 21.0 18.7 17.8 16.2 naEL6.6 7.6 12.0 14.2 18.2 17.2 16.8 17.2 15.6 14.6 ES7.6 10.8 13.4 14.3 15.7 17.1 15.4 14.9 12.8 10.7 FR8.4 9.9 9.4 8.4 8.1 9.6 8.6 8.4 8.1 8.0 HRna13.9 15.9 16.8 14.8 14.7 14.4 13.0 12.2 11.2 IT9.2 10.6 10.5 10.6 11.3 12.1 11.7 12.8 11.8 11.3 CY4.0 4.9 4.9 6.5 7.9 9.7 10.9 10.6 9.4 8.6 LV7.4 12.6 12.6 11.7 10.0 9.6 7.8 7.2 7.8 7.6 LT7.2 9.5 12.7 11.4 11.0 8.8 9.2 10.2 9.7 9.0 LU6.3 5.5 5.8 6.1 6.6 6.1 5.7 6.6b6.9 8.3 HU11.3 11.9 12.8 13.5 13.6 12.8 9.4 8.2 6.6 5.7 MT9.2 9.2 8.9 9.0 9.1 9.9 9.2 7.3 7.1 5.5 NL8.5 8.4 8.9 8.9 9.3 10.2 10.2 9.7b9.5 8.6 AT7.1 7.8 8.6 7.7 7.8 9.1 8.2 8.1 8.3 7.3 PL6.9 7.3 6.9 6.9 7.2 7.3 6.9 6.4 5.7 5.6 PT7.0 8.6 8.3 10.1 12.2 12.2 10.9 9.1 8.0 7.2 RO8.1 7.7 7.3 7.9 7.6 7.2 7.9 8.2 6.9 7.4 SI5.6 7.0 7.6 7.5 8.0 8.7 7.4 7.4 6.2 5.4 SK5.6 7.9 7.7 7.2 7.6 7.1 7.1 6.5 5.4 naFI8.4 9.3 10.0 9.3 9.0 10.0 10.8 11.4 10.7 10.8 SE8.5 8.5 9.4 8.1 9.4 9.0 8.7 8.5 8.8 9.1 UK12.7 13.2 11.5 13.0b13.2 12.3 11.9 11.3 10.1bnaPeoplelivinginhouseholdswithverylowworkintensityarepeopleaged0-59livinginhouseholdswheretheadults(aged18-59)workedlessthan20%oftheirtotalworkpotentialduringthepastyear.Studentsareexcluded.Data are expressed in percent of population aged 0-59. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. 1)Officialtransmissiondeadlinefor2018datais30November2019whiledatawereextractedon25October2019.2)Cautionshouldbetakenintimecomparisons.ForBGtheincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesizefrom5200(interviewedhouseholds)to7800,theaveragesamplesizeofnewrotationalgroupsisunchanged(around2500households).Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime.ForLU,in2016newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister.ForNL,anewweightingschemehasbeenappliedfromEU-SILC2016onwards(AROP/AROPE).ForUK:significantchangeinmicrodatacollectionpracticesacrossmostSILCvariables,partialresponsesfromtheSLCareincluded,withitem-by-itemimputationusedtoadjustindividual non-response as well as change in calibration variables used.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Chapter 4: Tables by Member State - Headline indicators 
Table 4.1: The MIP scoreboard for Belgium 

92 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%0.9 0.8 0.4 -0.1 -0.4 0.5 1.0 0.9 1.1 0.3 Net international investment position% of GDP-35%58.2 56.3 51.4 40.8 43.2 44.8 45.2 54.5 56.7 41.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)4.0 0.5 -1.5 -4.3 -0.2 -0.6 -1.7 -0.4 0.9 6.9 Export market share - % of world exports5 year % change-6%-9.0 -11.6 -7.8 -15.5 -13.0 -13.3 -13.6 -5.0 1.1 -1.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.9 7.4 5.1 4.9 7.4 4.3 0.5 -0.9 0.8 3.7 House price index (2015=100), deflated 1 year % change6%0.3 1.2 1.1 0.2 0.1 -1.3 0.8p1.2p1.6p1.0 Private sector credit flow, consolidated% of GDP14%5.4 -0.7 22.2 14.7 7.9 -2.0 12.1 23.8 0.1 0.8 Private sector debt, consolidated% of GDP133%173.7 168.7 180.5 191.0 163.0 162.2 176.1 194.8 185.0 178.5 General government gross debt% of GDP60%100.2 100.3 103.5 104.8 105.5 107.0 105.2 104.9 101.8 100.0 Unemployment rate3 year average10%7.5 7.7 7.8 7.7 7.7 8.2 8.5 8.3 7.8b7.0bTotal financial sector liabilities, non-consolidated1 year % change16.5%0.5 -1.2 5.4 -5.1 1.2 2.5 2.7 2.4 0.6 -2.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.4 0.6 -0.4 0.0 -0.2 1.0 0.7 0.1 0.3b1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.7 0.2 0.2 -0.1 -0.1 0.8 1.0 0.1 -0.8b-1.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp1.4 3.6 0.7 -2.1 1.3 4.5 2.3 -3.6 -3.9b-6.3 BelgiumExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, 2017, 2018: revision in the survey methodology.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 4.2: The MIP scoreboard for Bulgaria 

93 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-18.0 -10.7 -3.2 -0.8 0.3 0.6 0.9 1.5 2.3 4.0 Net international investment position% of GDP-35%-97.0 -92.4 -82.8 -77.7 -73.5 -72.2 -61.8 -47.9 -43.3 -35.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)18.3 9.7 1.9 -4.0 -0.9 -2.8 -4.3 -4.7 -3.3 3.9 Export market share - % of world exports5 year % change-6%19.0 8.0 11.1 -1.0 -0.2 5.6 13.2 9.4 20.4 13.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)35.2 30.2 17.9 12.2p15.3p17.6p14.5p8.6p13.5p18.3pHouse price index (2015=100), deflated 1 year % change6%-21.0e-12.4e-8.6 -5.2 0.4 1.4 1.2b6.6 5.3 4.5 Private sector credit flow, consolidated% of GDP14%1.8 -0.3 3.5 2.6 2.6 2.3 -3.5 3.0 4.1 3.9 Private sector debt, consolidated% of GDP133%140.4 137.3 129.1 128.3 130.6 125.6 109.3 104.5 99.0 95.0 General government gross debt% of GDP60%13.7 15.4 15.2 16.7 17.1 27.1 26.0 29.3 25.3 22.3 Unemployment rate3 year average10%6.4 7.6d9.5d11.3d12.2 12.2 11.2 9.4 7.7 6.3 Total financial sector liabilities, non-consolidated1 year % change16.5%3.8 4.3 4.3 11.7 1.1 7.9 9.5 9.3 7.1 6.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7 0.4b-1.9b-0.1 1.7b3.1b2.2 0.3 2.3 2.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.0 0.6b3.4b3.8 2.7 0.6 -1.2 -2.9 -3.5 -2.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.2 7.8d13.1 13.0 6.5 -1.2 -6.5 -11.2 -10.9 -8.9 BulgariaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index e = NSI estimates; b = break in time series due to full implementation of harmonised EU methodology(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.3: The MIP scoreboard for Czech Republic 

94 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-2.9 -2.6 -2.6 -2.4 -1.4 -0.6 0.0 0.7 1.2 1.2 Net international investment position% of GDP-35%-43.9 -46.0 -45.2 -45.9 -41.4 -36.6 -32.9 -26.9 -25.0 -23.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)13.5 12.1 -0.5 0.5 -3.1 -10.0 -8.2 -3.7 5.3 11.0 Export market share - % of world exports5 year % change-6%27.2 11.7 7.4 -4.5 -9.8 -6.2 -2.2 2.4 8.6 11.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.0 6.4 3.4 3.8 4.2 4.0 0.1 2.7 5.9 13.5 House price index (2015=100), deflated 1 year % change6%-4.7 -2.2 -1.7 -3.6 -0.8 1.8 3.8p6.7p9.1p6.1pPrivate sector credit flow, consolidated% of GDP14%0.5 2.6 2.1 2.9 4.4 1.7 0.3 4.3 4.2 5.3 Private sector debt, consolidated% of GDP133%65.9 67.9 68.3 70.7 73.7 71.5 68.1 68.7 67.3 70.7 General government gross debt% of GDP60%33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 34.7 32.6 Unemployment rate3 year average10%5.5 6.1 6.9 7.0 6.9 6.7 6.1 5.1 4.0 3.0 Total financial sector liabilities, non-consolidated1 year % change16.5%2.2 3.2 4.3 5.2 11.4 5.2 8.1 16.3 23.0 7.4 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.2 0.3 0.8b1.5 2.7 3.0b2.4 2.1 2.4 2.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.9 0.2 0.5b1.0 0.0 0.0 -0.6 -1.3 -1.7 -1.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.9 7.6 8.2 2.9 0.6 -2.2 -6.9 -8.4 -8.0 -5.9 Czech RepublicExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.4: The MIP scoreboard for Denmark 

95 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%2.6 4.3 5.5 6.5 6.9 7.7 8.3 8.3 7.9 7.5 Net international investment position% of GDP-35%0.9 12.8 27.8 36.1 37.2 43.3 33.4 38.2 40.8 48.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.5 0.2 -2.5 -7.8 -2.5 -1.2 -1.7 -1.7 -2.1 2.6 Export market share - % of world exports5 year % change-6%-1.1 -10.6 -13.8 -17.7 -17.8 -15.9 -8.5 -2.9 1.1 -1.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)16.4 9.5 3.6 -0.2 1.5 2.3 2.2 2.1 2.4 4.0 House price index (2015=100), deflated 1 year % change6%-13.0 0.3 -4.0 -4.9 3.1 3.2 6.5 4.7 3.3 3.5 Private sector credit flow, consolidated% of GDP14%-1.9 -2.9 4.4 7.9 -3.0 -0.3 2.9 2.8 0.1 2.4 Private sector debt, consolidated% of GDP133%232.2 220.6 221.0 224.0 216.1 214.0 211.4 209.5 201.7 199.4 General government gross debt% of GDP60%40.2 42.6 46.1 44.9 44.0 44.3 39.8 37.2 35.5 34.2 Unemployment rate3 year average10%4.6 5.9 7.3 7.8 7.7 7.4 6.9 6.4 6.0 5.6 Total financial sector liabilities, non-consolidated1 year % change16.5%5.5 9.7 1.6 2.5 1.8 7.3 -0.9 5.1 4.8 -4.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.4 -0.7 -1.4 -1.6 -1.3 -1.2 -0.1 1.9b0.7b0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.2 0.9 1.3 1.5 0.3 -0.1 -0.4 -0.4b-0.4b-0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp5.7 8.0 6.8 2.3 -0.7 -2.1 -3.6 -2.6 -1.8 -1.6 DenmarkExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, 2016, 2017: improvement in the data collection and introduction of CAWI (computer-assisted web interviewing) technique.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.5: The MIP scoreboard for Germany 

96 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%6.1 5.8 5.9 6.4 6.6 7.0 7.4 8.1 8.4 8.0 Net international investment position% of GDP-35%25.1 25.8 23.3 28.7 34.7 40.8 46.6 51.4 55.2 62.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.9 -3.8 -4.9 -9.0 -1.8 -0.4 -1.5 -2.1 -2.0 5.3 Export market share - % of world exports5 year % change-6%-6.8 -8.1 -9.4 -16.8 -13.0 -9.5 -3.2 2.0 5.7 3.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.2 8.2 5.6 2.5 6.1 7.4 5.9 4.9 4.9 5.6 House price index (2015=100), deflated 1 year % change6%0.7 -0.5 1.6 2.1 1.6 2.2 4.2 6.8 4.6 5.1 Private sector credit flow, consolidated% of GDP14%-1.1 0.0 2.0 1.4 2.0 -0.3 2.9 3.7 4.5 6.6 Private sector debt, consolidated% of GDP133%113.6 106.4 102.4 101.9 103.0 98.4 97.9 98.3 100.1 102.4 General government gross debt% of GDP60%73.0 82.4 79.8 81.1 78.7 75.7 72.1 69.2 65.3 61.9 Unemployment rate3 year average10%7.8 7.3 6.8 6.1 5.5 5.2 4.9 4.6 4.2 3.8 Total financial sector liabilities, non-consolidated1 year % change16.5%-6.3 -0.8 3.1 3.2 -6.4 4.6 2.6 5.2 4.0 2.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.4 1.1b1.4b0.9 0.9b0.4b0.4 0.3 0.5 1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.2 -1.6b-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 -0.6 -0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.5 -2.0 -1.9 -3.1 -2.0 -0.8 -0.8 -0.7 -0.9 -1.0 1) For the employment indicators, see page 2 of the AMR 2016. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. GermanyExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.6: The MIP scoreboard for Estonia 

97 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-7.0 -1.4 1.9 0.4 -0.1 -0.3 0.9 1.4 2.0 2.1 Net international investment position% of GDP-35%-78.2 -69.4 -54.0 -50.7 -49.7 -46.7 -39.9 -39.2 -32.5 -27.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)13.6 4.6 -0.8 -3.6 3.1 4.8 5.8 4.4 3.0 7.7 Export market share - % of world exports5 year % change-6%16.3 9.5 24.4 6.9 9.9 20.5 7.3 -0.3 2.2 0.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)38.5 12.4 -2.2 0.1 11.2 14.8 15.3 12.8 12.4 14.3 House price index (2015=100), deflated 1 year % change6%-36.3 1.8 3.1 3.1 7.3 12.9 7.3 4.0 1.8 2.1 Private sector credit flow, consolidated% of GDP14%-5.4 -3.2 -0.8 7.6 4.8 5.6 2.7 6.2 4.8 3.7 Private sector debt, consolidated% of GDP133%145.8 136.7 118.9 117.2 115.2 115.4 112.8 112.4 107.6 101.5 General government gross debt% of GDP60%7.2 6.6 6.1 9.8 10.2 10.6 10.0 10.2 9.3 8.4 Unemployment rate3 year average10%7.9d11.9d14.2 13.0 10.3 8.7 7.4 6.8 6.3 6.0 Total financial sector liabilities, non-consolidated1 year % change16.5%-4.6 -8.6 -0.2 10.9 10.3 13.0 8.6 6.7 14.3 6.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 0.7 0.5 0.8 1.2 0.5 1.9 2.4 3.6 2.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.8 5.3 5.4 1.8 -3.8 -3.8 -3.1 -1.7 -1.4 -1.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp15.3 22.8 10.4 -6.5 -14.2 -7.4 -7.8 -5.3 -2.9 -1.2 EstoniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:d:Definition differs. 1) For the employment indicators, see page 2 of the AMR 2016. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.7: The MIP scoreboard for Ireland 

98 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-5.8 -4.0 -2.5 -2.1 -1.2 -0.3 2.3 0.4 0.2 2.3 Net international investment position% of GDP-35%-115.7 -113.5 -139.3 -137.8 -133.4 -164.7 -198.4 -171.7 -167.2 -165.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.2 -5.4 -9.6 -12.2 -3.8 -3.6 -6.4 -7.1 -6.3 2.3 Export market share - % of world exports5 year % change-6%1.9 -6.3 -10.3 -18.3 -10.6 -14.6 37.8 58.6 71.3 77.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)8.7 -4.8 -13.7b-9.9 -0.7 -3.7 -18.6 -17.7 -15.4 -2.8 House price index (2015=100), deflated 1 year % change6%-13.7 -11.6 -17.9 -14.6 -0.1 15.5 10.8 7.1 9.8 8.3 Private sector credit flow, consolidated% of GDP14%-4.5 2.2 16.5 -0.5 -1.4 2.6 -2.3 -15.7 0.2 -7.8 Private sector debt, consolidated% of GDP133%256.1 257.0 274.5 279.1 267.5 278.4 305.1 284.4 250.5 223.2 General government gross debt% of GDP60%61.5 86.0 111.1 119.9 119.9 104.4 76.7 73.9 67.8 63.6 Unemployment rate3 year average10%8.1 11.3 14.2 15.2 14.9 13.7 11.9 10.1 8.4 7.0 Total financial sector liabilities, non-consolidated1 year % change16.5%3.4 6.3 -2.3 -1.8 1.9 19.5 9.6 1.5 4.3 5.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.9 -4.0b-3.6 -1.9 0.2 0.6 1.0 0.9 0.9 0.8 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp2.1 5.5 7.1 5.7 1.1 -2.2 -3.9 -3.8 -3.6 -3.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp15.7 18.9 16.1 6.3 -1.4 -6.2 -10.6 -9.9 -9.0 -6.4 IrelandExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Private sector debt 2015: significant increases due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets. 3) Activity rate, 2010: change in the sampling design.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.8: The MIP scoreboard for Greece 

99 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-14.2 -12.5 -10.3 -7.4 -4.5 -1.9 -1.0 -1.1 -1.5 -2.2 Net international investment position% of GDP-35%-87.5 -99.0 -88.8 -115.9 -130.4 -131.9 -135.4 -137.6 -140.7 -143.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)4.8 2.9 1.8 -5.0 -4.4 -5.6 -5.6 -4.0 -3.0 3.6 Export market share - % of world exports5 year % change-6%-10.3 -15.7 -17.2 -26.3 -26.6 -19.4 -14.0 -9.8 -0.4 6.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)15.8 14.0 6.8p-2.3p-10.0p-10.4p-9.7p-3.3p-1.0p1.4pHouse price index (2015=100), deflated 1 year % change6%-4.7e-8.0e-7.5e-12.1e-9.1e-5.1e-3.4e-1.7e-1.6e1.3ePrivate sector credit flow, consolidated% of GDP14%2.2 2.4 -6.5p-4.7p-4.0p-3.0p-3.0p-2.1p-1.0p-1.1pPrivate sector debt, consolidated% of GDP133%116.5 128.1 130.2p132.6p132.3p130.8p128.0p125.1p118.1p115.3pGeneral government gross debt% of GDP60%126.7 146.2 172.1 159.6 177.4 178.9 175.9 178.5 176.2 181.2 Unemployment rate3 year average10%8.6 10.0 13.4 18.4 23.3 26.2 26.3 25.0 23.3 21.5 Total financial sector liabilities, non-consolidated1 year % change16.5%10.1 8.4 -3.7 -2.1 -17.7 -7.9 5.3 -10.4 -13.0 -5.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.7b1.3 0.6 0.1b-0.3 0.1 0.3 0.7 0.9 0.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.0b1.5 5.1 10.6 12.8 10.7 3.7 -1.5 -3.9 -4.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.7 10.3 22.8 29.6 25.3 7.7 -5.5 -11.0 -8.8 -9.9 GreeceExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = estimate by NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.9: The MIP scoreboard for Spain  

100 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-7.5 -5.5 -3.5 -2.1 -0.2 1.3 1.9 2.3 2.6 2.6 Net international investment position% of GDP-35%-93.5 -88.6 -91.9 -88.9 -92.8 -95.9 -88.9 -85.5 -85.5 -80.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)4.6 -0.3 -2.5 -5.3 -0.3 -1.0 -3.2 -4.3 -2.6 4.1 Export market share - % of world exports5 year % change-6%-8.8 -11.7 -8.3 -17.5 -10.3 -11.5 -3.3 2.9 9.9 4.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.1 6.3 -1.4 -5.0 -5.1 -3.6 -1.1 -1.2 -0.5p0.7pHouse price index (2015=100), deflated 1 year % change6%-5.7 -3.7 -9.7 -16.5 -10.0 0.2 3.7 4.4 4.5 5.3 Private sector credit flow, consolidated% of GDP14%-1.2 0.9 -4.2 -11.2 -10.1 -6.5 -2.7 -0.7 0.7p0.4pPrivate sector debt, consolidated% of GDP133%204.2 203.2 198.2 188.5 178.1 168.2 155.8 147.5 139.7p133.5pGeneral government gross debt% of GDP60%53.3 60.5 69.9 86.3 95.8 100.7 99.3 99.2 98.6 97.6 Unemployment rate3 year average10%12.5 16.4 19.7 22.0 24.1 25.1 24.2 22.1 19.6 17.4 Total financial sector liabilities, non-consolidated1 year % change16.5%2.8 -1.5 2.8 0.6 -9.9 -0.6 -2.0 2.5 3.4 -2.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.0 1.7 1.2 1.2 0.8 0.3 0.0 -0.1 -0.3 -0.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp2.5 5.6 6.9 6.7 5.7 4.0 0.4 -3.5 -5.2 -5.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp19.8 23.4 21.7 15.2 14.0 7.0 -4.6 -11.1 -14.6 -14.0 Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)SpainExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
Table 4.10: The MIP scoreboard for France 

101 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-0.4 -0.6 -0.7 -0.8 -0.8 -0.8 -0.6 -0.6 -0.5 -0.6 Net international investment position% of GDP-35%-14.8 -9.3 -8.7 -12.8 -16.6 -15.6 -12.9 -13.0 -16.6 -16.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.6 -2.2 -4.4 -7.8 -2.2 -1.3 -2.9 -3.2 -3.0 4.5 Export market share - % of world exports5 year % change-6%-13.6 -17.2 -15.4 -18.3 -14.2 -14.5 -3.7 1.1 2.4 -0.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)8.0 7.4 5.4 4.1 4.6 4.4 2.3 1.7 1.5p2.4pHouse price index (2015=100), deflated 1 year % change6%-4.7 3.6 4.0 -2.0 -2.6 -1.7 -1.8 0.8 2.2 1.5 Private sector credit flow, consolidated% of GDP14%3.3 4.6 6.4 4.2 2.1 3.2 4.6 6.5 6.8p7.9pPrivate sector debt, consolidated% of GDP133%130.6 132.0 135.3 138.3 137.4 141.5 142.8 143.7 145.5p148.9pGeneral government gross debt% of GDP60%83.0 85.3 87.8 90.6 93.4 94.9 95.6 98.0 98.4 98.4 Unemployment rate3 year average10%8.2 8.6 9.2 9.4 9.8 10.1 10.3 10.3 10.0 9.5 Total financial sector liabilities, non-consolidated1 year % change16.5%-0.7 3.5 6.9 1.4 0.5 5.6 2.2 4.6 4.6 1.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.6e0.5e0.3e0.5e0.9e1.3e1.0e0.7e0.5 0.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.5e0.6e1.1e0.8e0.5e0.5 0.5 0.2 -0.3 -0.8 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp1.6 3.8 3.6 0.8 1.6 1.6 0.3 -0.3 -1.9 -4.0 Internal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:e:Estimated. p:Provisional. FranceExternal imbalances and competitiveness1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.11: The MIP scoreboard for Croatia 

102 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-8.5 -6.6 -3.6 -2.0 -1.6 -0.9 0.8 1.8 2.8 2.4 Net international investment position% of GDP-35%-89.1 -95.4 -93.1 -91.6 -89.5 -86.8 -78.4 -72.4 -65.6 -57.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.9 1.8 -4.7 -8.4 -3.9 -0.8 0.1 0.0 0.1 4.2 Export market share - % of world exports5 year % change-6%-4.1 -10.6 -15.6 -25.8 -23.3 -19.4 -5.8 9.5 23.2 22.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)15.8d12.0d6.8d-1.6d-4.6d-6.8d-6.1d-5.6d-3.9d-2.4dHouse price index (2015=100), deflated 1 year % change6%-7.9 -7.6 -1.9 -4.7 -5.7 -1.3 -2.6 2.0 2.9 4.6 Private sector credit flow, consolidated% of GDP14%2.5 4.7 -2.5 -2.9 -0.6 -0.1 -1.5 -0.2 1.5 2.3pPrivate sector debt, consolidated% of GDP133%118.9 123.6 121.0 118.4 117.2 117.2 111.9 104.1 97.8 94.0pGeneral government gross debt% of GDP60%48.7 57.8 64.4 70.1 81.2 84.7 84.4 81.0 78.0 74.8 Unemployment rate3 year average10%9.3 9.9 11.6 13.8 15.6 16.8 16.9 15.6 13.5 10.9 Total financial sector liabilities, non-consolidated1 year % change16.5%4.0 4.1 1.9 0.9 2.8 0.6 2.0 3.5 3.9 4.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.6e-0.6 -1.7 -1.7 -1.4 2.0 3.0 1.9 0.3 -0.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.6 0.6 3.1 5.1 4.4 1.7 0.0 -4.4 -5.5 -6.8 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.5 6.9 13.0 16.8 17.6 8.3 0.1 -18.1 -17.7 -18.9 Internal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:d:Definition differs. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Nominal unit labour cost, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)CroatiaExternal imbalances and competitiveness 
 
 
 
 
 
 
 
 
Table 4.12: The MIP scoreboard for Italy  

103 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-2.0 -2.7 -2.7 -2.1 -0.6 0.9 1.5 2.0 2.2 2.6 Net international investment position% of GDP-35%-22.3 -20.1 -18.2 -23.0 -23.3 -21.0 -19.3 -11.9 -7.7 -4.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.6 -1.9 -3.2 -6.2 0.1 0.2 -2.4 -3.4 -3.1 3.3 Export market share - % of world exports5 year % change-6%-18.0 -19.1 -19.2 -25.7 -20.4 -15.5 -9.7 -4.0 1.2 0.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.7 8.5 4.9 2.0 2.9 2.6 2.0 1.5 1.3 2.7 House price index (2015=100), deflated 1 year % change6%0.0e-0.9be-1.5 -5.0 -7.5 -4.9 -4.0 0.2 -2.3 -1.6 Private sector credit flow, consolidated% of GDP14%0.8 5.0 3.1 -0.9 -2.9 -0.3 -1.4 0.1 1.3 1.6 Private sector debt, consolidated% of GDP133%122.2 122.8 121.8 124.2 121.2 118.9 115.1 111.7 108.8 107.0 General government gross debt% of GDP60%116.6 119.2 119.7 126.5 132.4 135.4 135.3 134.8 134.1 134.8 Unemployment rate3 year average10%6.8 7.6 8.2 9.2 10.4 11.8 12.2 12.1 11.6 11.2 Total financial sector liabilities, non-consolidated1 year % change16.5%5.1 4.2 5.1 7.2 -2.7 0.5 1.4 3.3 4.2 -0.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.3 -0.4 -0.8 1.2 1.4 1.8 0.5 1.5 1.5 1.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.1 1.1 1.3 2.2 2.9 3.4 1.3 -0.2 -1.2 -0.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp3.5 7.5 8.0 10.0 12.1 13.5 5.0 -2.2 -8.0 -8.1 ItalyExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = estimate by NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.13: The MIP scoreboard for Cyprus 

104 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-11.0 -10.7 -6.6 -5.9 -2.8 -3.4 -2.1 -3.0 -3.3 -4.6 Net international investment position% of GDP-35%-116.0 -122.2 -141.9 -141.1 -162.5 -163.8 -154.5 -134.3 -127.3 -120.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.6 0.0 -3.0 -5.9 -0.8 -1.7 -6.2 -7.4 -6.4 1.8 Export market share - % of world exports5 year % change-6%-9.1e-15.8e-11.4e-21.7e-12.0 -20.1 -4.8 8.0 18.6 16.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)12.5 10.4 9.4 3.2 -0.7 -6.5 -10.8 -9.4 -4.1p-0.4pHouse price index (2015=100), deflated 1 year % change6%-6.9 -8.1 -4.4 -5.5 -3.8 -1.1 0.5b1.8 1.3 0.2 Private sector credit flow, consolidated% of GDP14%10.7 20.5 17.1 0.8 -12.0 -0.7 4.4 12.2 6.7 8.4pPrivate sector debt, consolidated% of GDP133%301.5 309.5 319.8 326.0 341.2 352.8 347.8 329.5 304.0 282.6pGeneral government gross debt% of GDP60%54.3 56.4 65.9 80.3 104.0 109.2 107.5 103.4 93.9 100.6 Unemployment rate3 year average10%4.3 5.1 6.5 8.7 11.9 14.6 15.7 14.7 13.0 10.8 Total financial sector liabilities, non-consolidated1 year % change16.5%24.2 4.2 9.6 12.2 -3.4 11.6 9.8 -0.2 -1.7 0.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.0b-0.3 -0.1 0.5b0.0 0.8 0.4 -0.2 -0.4 1.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.3b0.6 1.1 3.0 4.8 6.1 3.2 -0.3 -3.2 -4.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp3.8 6.4 13.4 13.9 22.3 13.6 5.1 -9.8 -11.3 -12.6 CyprusExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index b = break in time series due to full implementation of harmonised EU methodology. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.14: The MIP scoreboard for Latvia 

105 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-8.4 -0.9 2.1 -1.7 -3.2 -2.9 -2.0 -0.6 0.5 0.6 Net international investment position% of GDP-35%-82.5 -83.0 -74.7 -67.5 -66.7 -67.1 -64.1 -59.0 -56.2 -49.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)23.5 6.7 -2.4 -8.6 -1.7 0.4 2.5 4.8 1.7 4.9 Export market share - % of world exports5 year % change-6%52.6 21.7 26.5 7.9 5.9 12.0 13.5 10.2 8.2 8.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)36.7 -2.0 -20.6 -6.5 8.0 16.0 17.2 16.7 15.2 14.7 House price index (2015=100), deflated 1 year % change6%-34.9 -8.7 4.0 -0.2 6.7 4.3 -2.4 7.3 5.6 6.6 Private sector credit flow, consolidated% of GDP14%-7.6 -9.1 -2.4 -5.4 -0.6 -4.4 -0.5 2.3 2.4 -0.2 Private sector debt, consolidated% of GDP133%137.4 134.0 115.2 96.8 91.0 82.2 80.4 80.5 76.9 70.3 General government gross debt% of GDP60%36.2 47.3 43.1 41.6 39.4 40.9 36.7 40.2 38.6 36.4 Unemployment rate3 year average10%10.4 14.9 17.7 16.9 14.4 12.6 10.9 10.1 9.4 8.6 Total financial sector liabilities, non-consolidated1 year % change16.5%-9.2 0.5 -6.2 5.6 5.7 11.4 13.2 4.7 6.2 -3.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.5 0.4 -1.4 0.9 1.0 1.8 1.3 2.3 2.4 2.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp2.1 7.2 6.9 3.3 -3.1 -4.2 -3.3 -1.7 -1.3 -1.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp19.7 25.6 17.4 -4.8 -13.0 -11.4 -12.2 -5.9 -2.6 -4.1 LatviaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold.1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.15: The MIP scoreboard for Lithuania 

106 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-8.8 -3.6 -0.5 -1.7 -1.2 1.2 0.9 0.0 -1.0 -0.1 Net international investment position% of GDP-35%-61.1 -60.0 -53.6 -54.3 -50.6 -46.8 -43.6 -42.9 -37.9 -31.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)16.7 7.2 1.7 -6.7 -0.6 1.7 4.2 5.3 2.6 6.4 Export market share - % of world exports5 year % change-6%30.8 16.5 26.0 27.0 11.9 19.4 6.5 -1.4 3.8 3.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)13.0 0.5b-7.8 -4.2 6.1 8.7 11.8 15.0 16.3 16.5 House price index (2015=100), deflated 1 year % change6%-32.9 -8.6 2.2 -3.3 0.3 6.4 4.7 4.4 5.3 4.6 Private sector credit flow, consolidated% of GDP14%-9.4 -5.9b-1.8 0.3 -0.3 0.2 2.6 4.3 4.5 4.3 Private sector debt, consolidated% of GDP133%83.4 74.8b68.8 61.1 56.7 54.2 55.3 56.5 56.1 56.4 General government gross debt% of GDP60%28.0 36.3 37.2 39.8 38.7 40.6 42.7 39.9 39.3 34.1 Unemployment rate3 year average10%8.0 12.5 15.7 15.5 13.5 12.0 10.5 9.2 8.0 7.1 Total financial sector liabilities, non-consolidated1 year % change16.5%-4.5 -0.1 2.0 -0.7 -1.2 16.7 7.3 15.8 13.9 8.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.0 2.3 3.0 2.2 2.2 2.3 2.3 3.1 2.2 3.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.7 6.0 6.7 3.3 -2.3 -3.2 -2.7 -2.1 -2.1 -1.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp19.6 27.3 19.3 -2.9 -13.8 -13.3 -10.4 -7.4 -6.0 -5.2 LithuaniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Nominal unit labour cost, Private sector debt, Private sector credit flow, 2010: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.16: The MIP scoreboard for Luxembourg 

107 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%8.2 7.1 6.6 6.1 5.7 5.4 5.2 5.1 5.0 4.9 Net international investment position% of GDP-35%-28.9 -20.4 28.9 58.4 58.9 59.3 50.0 54.6 51.8 59.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.8 1.2 0.1 -2.4 0.8 0.5 -0.7 -1.5 -1.0 3.3 Export market share - % of world exports5 year % change-6%11.9 3.2 -3.8 -5.6 8.2 16.3 29.8 33.3 21.4 10.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)17.6 16.0 8.8 5.9 7.6 7.1 2.4 1.2 4.0 7.9 House price index (2015=100), deflated 1 year % change6%-0.6 4.2 0.6 2.1 3.3 3.9 5.3 5.7 3.7 4.9 Private sector credit flow, consolidated% of GDP14%7.4 -22.5 21.4 25.9 27.8 28.7 23.6 -9.6 27.4 -0.5 Private sector debt, consolidated% of GDP133%332.2 284.2 284.3 303.7 313.3 324.9 335.8 309.0 322.9 306.5 General government gross debt% of GDP60%15.7 19.8 18.7 22.0 23.7 22.7 22.0 20.1 22.3 21.0 Unemployment rate3 year average10%4.7 4.9 4.8 4.8 5.3 5.7 6.1 6.3 6.1 5.8 Total financial sector liabilities, non-consolidated1 year % change16.5%6.8 13.1 10.9 15.1 10.3 37.8 17.5 5.2 0.4 -2.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.0b1.3b1.1 0.7b1.7 2.9 1.5b0.1 -0.6 0.2bLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.2b0.1 -0.2 0.4 0.5 0.2 0.3b0.4 0.5 -0.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp1.0 0.2 -0.9 1.5 1.1 5.9 -1.4 2.2 -6.8 -2.5 LuxembourgExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position has been revised downwards in 2015 following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) Labour Force Survey indicators, 2015: change in the sampling strategy and data collection technique.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.17: The MIP scoreboard for Hungary 

108 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-5.0 -2.5 0.1 0.8 1.9 2.1 2.3 2.7 3.1 2.1 Net international investment position% of GDP-35%-113.4 -106.7 -104.2 -92.2 -82.2 -80.4 -67.9 -59.6 -54.9 -52.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)7.7 -1.3 -4.2 -0.8 -3.8 -6.8 -7.2 -5.2 0.0 2.0 Export market share - % of world exports5 year % change-6%10.3 0.8 -4.3 -23.2 -22.9 -16.8 -9.3 -2.1 10.8 8.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)12.1 6.2 3.8 7.7 7.5 6.2 1.1 5.4 9.1 12.4 House price index (2015=100), deflated 1 year % change6%-9.2 -5.9 -7.0 -9.5 -4.4 3.0 13.2 13.2 9.3 10.9 Private sector credit flow, consolidated% of GDP14%5.9 -4.2 -4.4 -6.0 -0.9 -0.2 -2.5 -3.1 0.7 4.3 Private sector debt, consolidated% of GDP133%115.9 114.4 113.6 101.1 94.6 90.7 83.2 76.6 70.0 69.3 General government gross debt% of GDP60%78.2 80.6 80.8 78.5 77.3 76.8 76.1 75.5 72.9 70.2 Unemployment rate3 year average10%8.4d9.7d10.7 11.1 10.7 9.6 8.2 6.5 5.4 4.3 Total financial sector liabilities, non-consolidated1 year % change16.5%1.6 -0.2 6.2 -5.8 -1.3 8.7 0.4 19.5 -7.7 -9.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.8 0.3 1.2 2.5 2.8 4.6 4.9 5.4 4.2 3.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.8 2.0 1.6 0.8 -0.6 -1.5 -1.9 -2.5 -2.0 -1.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp7.3 8.3 6.5 1.8 0.2 -5.6 -10.9 -13.7 -9.7 -7.1 HungaryExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:d:Definition differs. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.18: The MIP scoreboard for Malta 

109 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-4.6 -5.7 -5.6 -2.9 -0.8 1.8 2.9 4.1 6.0 8.9 Net international investment position% of GDP-35%12.6 12.1 6.3 19.6 26.9 43.0 37.4 35.4 63.0 62.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.9 -0.7 -5.0 -7.6 -1.2 0.1 -2.8 -2.9 -2.5 4.9 Export market share - % of world exports5 year % change-6%45.8 37.8 17.6 12.2 -0.6 -12.5 9.1 22.5 24.2 24.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.2 9.2 11.1 8.6 9.8 2.8 -1.4 -1.1 1.2 3.2 House price index (2015=100), deflated 1 year % change6%-6.1 -1.0 -3.5 0.4 -1.4 2.1 4.0 4.8 4.1 5.1pPrivate sector credit flow, consolidated% of GDP14%15.2 7.7 6.8 0.1 2.3 7.4 8.8 15.3 5.5 7.5 Private sector debt, consolidated% of GDP133%174.5 169.9 168.5 162.4 153.0 143.9 134.8 136.4 132.3 129.8 General government gross debt% of GDP60%67.6 67.5 70.2 67.7 68.4 63.4 57.8 55.5 50.3 45.8 Unemployment rate3 year average10%6.5 6.6 6.7 6.5 6.2 6.0 5.7 5.3 4.7 4.1 Total financial sector liabilities, non-consolidated1 year % change16.5%5.2 14.3 10.4 8.6 0.0 5.9 3.6 3.9 6.5 2.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.5 1.6 2.7 4.5 5.9 6.0 4.9 4.3 4.4 5.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.2 0.4 0.4 0.1 -0.3 -0.3 -0.6 -0.9 -1.1 -1.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.0 -0.3 1.6 -0.7 -0.5 -1.6 -2.2 -2.0 -1.1 -2.5 MaltaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.19: The MIP scoreboard for Netherlands 

110 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%5.8 5.8 7.0 8.6 9.5 9.5 8.2 7.6 8.4 9.9 Net international investment position% of GDP-35%1.4 11.0 20.1 26.7 30.7 48.0 48.9 61.4 59.4 70.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.7 -1.5 -2.4 -6.0 0.5 0.7 -0.9 -2.3 -1.8 3.2 Export market share - % of world exports5 year % change-6%-5.4 -8.2 -8.4 -12.8 -11.3 -11.4 -6.7 -3.0 1.5 1.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.3 7.7 5.3 2.6 4.8 3.7 -0.4 -0.3 -0.1p3.0pHouse price index (2015=100), deflated 1 year % change6%-3.0 -3.3 -4.0 -7.9 -7.9 -0.1 3.4 4.4 6.1 7.4 Private sector credit flow, consolidated% of GDP14%9.7 2.8 8.2 6.1 9.7 4.3 0.0 3.9 3.7 4.5pPrivate sector debt, consolidated% of GDP133%245.6 244.4 247.2 252.1 257.7 267.2 262.8 259.3 249.1 241.6pGeneral government gross debt% of GDP60%56.8 59.2 61.7 66.2 67.7 67.8 64.6 61.9 56.9 52.4 Unemployment rate3 year average10%4.1 4.4 4.8 5.3 6.0 6.8 7.2 6.8 5.9 4.9 Total financial sector liabilities, non-consolidated1 year % change16.5%7.1 5.4 10.3 6.0 -1.6 8.0 4.0 6.7 -0.1 -3.3pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7 1.2 0.3 0.9 1.5 0.9 0.6 0.3 0.7 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.0 -0.2 0.4 0.8 1.2 1.3 1.1 0.0 -1.0 -1.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.2 1.7 1.4 1.5 2.1 2.7 -0.4 -2.4 -3.8 -4.1 NetherlandsExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.20: The MIP scoreboard for Austria 

111 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%3.6 3.3 2.4 2.0 1.7 2.0 2.0 2.3 2.0 2.2 Net international investment position% of GDP-35%-5.0 -5.2 -1.9 -3.2 1.3 3.4 2.2 4.1 2.8 3.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.0 -2.0 -1.8 -4.7 0.7 1.9 1.3 0.9 0.2 4.8 Export market share - % of world exports5 year % change-6%-6.1 -12.6 -12.5 -21.7 -18.4 -15.8 -9.2 -2.8 2.7 3.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.2 9.0 5.8 3.8 6.4 7.9 6.4 5.4 4.0 4.7 House price index (2015=100), deflated 1 year % change6%3.6e4.3be3.0 4.8 3.0 1.4 3.4 7.0 3.2 2.5 Private sector credit flow, consolidated% of GDP14%1.3 0.3 3.0 1.2 1.0 0.9 2.1 3.4 3.6 3.9 Private sector debt, consolidated% of GDP133%131.9 132.3 129.4 128.2 127.1 124.8 124.0 123.5 121.8 121.0 General government gross debt% of GDP60%79.9 82.7 82.4 81.9 81.3 84.0 84.9 82.9 78.3 74.0 Unemployment rate3 year average10%4.8 4.7 4.9 4.8 5.0 5.3 5.6 5.8 5.7 5.5 Total financial sector liabilities, non-consolidated1 year % change16.5%-2.1 -1.9 1.5 0.4 -3.2 -0.8 -0.1 -2.8 2.2 1.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.9 0.9b0.7 0.8 1.1 0.8 0.4 0.7 1.0 1.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.3 -0.1 0.2 0.0 0.1 0.3 0.5 0.6 0.3 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.9 0.1 0.4 -1.3 0.2 1.4 1.2 1.5 -0.5 -1.2 AustriaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = estimate by NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.21: The MIP scoreboard for Poland 

112 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-5.7 -5.3 -4.8 -4.8 -3.4 -2.3 -1.3 -1.0 -0.3 -0.5 Net international investment position% of GDP-35%-57.3 -65.1 -62.4 -65.3 -68.9 -69.1 -62.1 -61.6 -61.2 -55.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.1 -1.3 -11.4 1.4 -4.3 -1.0 -1.4 -5.1 -3.5 0.1 Export market share - % of world exports5 year % change-6%34.4 24.7 15.1 1.4 -0.3 4.7 9.2 17.7 28.0 25.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)12.3 11.3b4.2 5.3 3.1 2.9 0.2 2.5 4.1 8.1pHouse price index (2015=100), deflated 1 year % change6%-5.4e-6.0e-4.6 -6.6 -4.8 1.2 2.6 2.3 1.8 4.9 Private sector credit flow, consolidated% of GDP14%4.4 4.2 6.6 4.8 3.3 4.6 3.5 5.1 2.9 3.4 Private sector debt, consolidated% of GDP133%67.1 69.7 73.9 73.4 75.4 78.1 78.9 81.6 76.5 76.1 General government gross debt% of GDP60%49.4 53.1 54.1 53.7 55.7 50.4 51.3 54.2 50.6 48.9 Unemployment rate3 year average10%8.3d8.3d9.2d9.8 10.0 9.8 8.9 7.6 6.2 5.0 Total financial sector liabilities, non-consolidated1 year % change16.5%8.6 13.7 4.8 10.7 7.4 0.7 2.4 9.1 6.5 3.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.3 2.1b1.9 1.8 1.7b2.2 1.6 1.8 1.7 2.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-5.3 -1.9b1.2 1.6 1.4 0.2 -1.1 -2.2 -2.3 -2.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-9.2d2.1 8.6 5.9 3.6 -1.9 -5.7 -9.6 -9.1 -9.1 Employment indicators¹Internal imbalancesPolandExternal imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = NSI estimates. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.22: The MIP scoreboard for Portugal 

113 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-10.6 -10.8 -8.8 -5.9 -2.0 0.1 0.7 0.5 0.8 0.9 Net international investment position% of GDP-35%-110.7 -107.2 -104.1 -119.3 -120.2 -123.8 -118.9 -110.3 -109.9 -105.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.1 -3.1 -3.0 -4.0 -0.6 -1.8 -3.1 -1.8 -0.8 3.1 Export market share - % of world exports5 year % change-6%-8.7 -7.6 -9.9 -17.3 -8.1 -7.3 0.9 5.2 14.3 9.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.5 4.4 -0.5 -6.2 -3.8 -2.9 0.2 -0.5 2.8 5.3pHouse price index (2015=100), deflated 1 year % change6%1.0 -1.0 -6.5 -8.7 -2.7 4.0 2.1 6.1 7.5 8.9 Private sector credit flow, consolidated% of GDP14%5.3 5.3 -0.9 -3.9 -1.6 -5.7 -1.9 -2.1 2.0 -0.1pPrivate sector debt, consolidated% of GDP133%204.2 201.8 204.2 210.5 202.1 190.5 179.5 169.3 161.9 154.3pGeneral government gross debt% of GDP60%87.8 100.2 114.4 129.0 131.4 132.9 131.2 131.5 126.0 122.2 Unemployment rate3 year average10%9.5 10.5 11.9 13.6 15.0 15.4 14.4 12.6 10.9 9.1 Total financial sector liabilities, non-consolidated1 year % change16.5%8.8 11.5 -4.5 -3.0 -5.4 -7.5 -1.6 -0.3 1.9 0.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.2 -0.2 -0.3b0.0 -0.7 -0.4b0.0 0.7 1.5 1.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.3 1.9 2.6b3.5 3.6 2.2 -0.5 -3.1 -3.9 -4.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp4.1 6.8 8.6 12.7 9.9 4.5 -6.0 -9.9 -10.9 -11.7 PortugalExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.23: The MIP scoreboard for Romania 

114 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-9.9 -7.1 -4.9 -5.0 -3.6 -2.2 -1.0 -1.3 -2.2 -3.3 Net international investment position% of GDP-35%-59.6 -64.1 -66.1 -67.6 -62.8 -57.3 -54.6 -49.0 -47.7 -44.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.9 -10.9 -3.2 -2.0 0.5 -1.0 2.7 -2.6 -5.6 -0.7 Export market share - % of world exports5 year % change-6%69.4 53.3 49.9 12.3 13.8 20.1 20.5 23.2 36.5 23.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)24.6 36.9 2.2 6.8 -4.7 6.7 0.6 9.5 15.4 33.6pHouse price index (2015=100), deflated 1 year % change6%-26.5e-12.7 -15.6 -9.1 -2.8 -3.1 1.8 5.2 3.2 1.8 Private sector credit flow, consolidated% of GDP14%-1.6 0.9 2.8 0.3 -1.4 -2.3 0.2 0.6 1.7 1.9pPrivate sector debt, consolidated% of GDP133%69.2 74.7 73.7 72.1 66.8 62.1 58.0 53.7 50.9 47.8pGeneral government gross debt% of GDP60%21.8 29.6 34.0 37.0 37.6 39.2 37.8 37.3 35.1 35.0 Unemployment rate3 year average10%6.2 6.4 6.9 7.0 7.0 6.9 6.9 6.5 5.9 5.0 Total financial sector liabilities, non-consolidated1 year % change16.5%15.1 4.9 4.5 4.8 0.8 1.2 4.1 7.0 8.2 3.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.5 1.9b1.2 1.7 0.0b1.6 1.3 0.7 1.6 1.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.9 -0.8b0.5 0.8 0.8 -0.1 0.0 -0.2 -0.8 -1.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.2 2.8 6.3 2.6 1.6 0.1 -0.9 -3.1 -5.7 -5.5 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)RomaniaExternal imbalances and competitivenessInternal imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. Employment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.24: The MIP scoreboard for Slovenia 

115 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-3.5 -2.4 -0.9 -0.1 1.3 3.2 4.1 4.6 4.9 5.5 Net international investment position% of GDP-35%-40.6 -43.1 -39.8 -44.0 -39.3 -38.4 -31.2 -28.9 -24.2 -18.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.2 1.2 -1.1 -4.5 -0.6 1.2 0.3 -0.6 -2.0 2.0 Export market share - % of world exports5 year % change-6%9.9 -1.4 -5.6 -20.9 -18.2 -12.7 -4.6 3.7 18.1 20.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)17.9 15.5 7.7 0.1 0.1 0.1 -0.1 1.3 3.7 6.1 House price index (2015=100), deflated 1 year % change6%-10.2 -1.3 0.9 -8.4 -7.2 -6.2 1.4 3.9 6.2 7.4 Private sector credit flow, consolidated% of GDP14%3.0 2.0 0.5 -2.8 -3.7 -4.7 -5.0 -0.8 0.9 1.3 Private sector debt, consolidated% of GDP133%113.5 115.2 112.9 112.2 107.2 97.9 87.4 81.1 76.3 72.8 General government gross debt% of GDP60%34.5 38.3 46.5 53.6 70.0 80.3 82.6 78.7 74.1 70.4 Unemployment rate3 year average10%5.1 5.9 7.1 8.1 9.1 9.6 9.6 8.9 7.9 6.6 Total financial sector liabilities, non-consolidated1 year % change16.5%7.4 -3.4 -1.2 -0.7 -10.1 -0.1 -3.8 3.4 5.3 4.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.9 0.2 -1.5 -1.4 -1.0 0.6 1.4 1.1 3.3 3.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.1 1.0 1.7 2.5 2.0 1.7 0.4 -0.9 -2.2 -2.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.3 4.6 5.3 7.0 6.9 4.5 -4.3 -6.4 -9.0 -7.5 Internal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold.1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)SloveniaExternal imbalances and competitiveness 
 
 
 
 
 
 
 
 
Table 4.25: The MIP scoreboard for Slovakia 

116 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-5.3 -4.9 -4.3 -2.9 -0.7 1.3 0.3 -1.2 -2.2 -2.4 Net international investment position% of GDP-35%-66.4 -61.5 -63.9 -60.6 -62.2 -63.5 -63.9 -66.8 -68.3 -68.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)27.1 11.0 3.4 -3.2 2.1 1.2 -1.2 -1.6 -2.0 2.5 Export market share - % of world exports5 year % change-6%9.5 3.8 -2.8 -10.3 -4.1 1.9 4.1 7.3 5.2 3.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.1 9.0 5.4 -0.3 2.6 2.4 2.7 4.1 8.1 10.9 House price index (2015=100), deflated 1 year % change6%-12.7 -4.9 -5.2 -6.0 -0.4 1.5 5.5 7.0 4.4 5.0 Private sector credit flow, consolidated% of GDP14%3.0 2.9 2.9 1.9b5.0 5.0 5.1 9.2 9.6 2.0 Private sector debt, consolidated% of GDP133%68.4 66.0 69.5 71.1b75.2 79.0 80.6 88.6 94.5 90.9 General government gross debt% of GDP60%36.4 41.0 43.5 51.8 54.7 53.5 51.9 52.0 51.3 49.4 Unemployment rate3 year average10%11.0 12.1 13.4d14.1d14.0d13.8 13.0 11.5 9.8 8.1 Total financial sector liabilities, non-consolidated1 year % change16.5%-5.0e2.3e0.6e1.1b1.4e9.4e10.4e8.6e17.4e8.9eActivity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.2 0.4 -0.1b1.0 1.2 1.6b1.5 2.0 1.8 1.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-3.7 0.9 2.6b2.9 0.8 0.1 -1.8 -4.2 -4.2 -3.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.6 13.3 14.4d6.4 -0.2 -4.0 -7.5 -11.5 -10.8 -11.6 Internal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 5) In Total financial sector liabilities, derivatives are estimated for the whole period 2009-2018.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)SlovakiaExternal imbalances and competitiveness 
 
 
 
 
 
 
 
 
Table 4.26: The MIP scoreboard for Finland 

117 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%2.9 2.0 0.7 -0.7 -1.8 -1.7 -1.4 -1.4 -1.2 -1.4 Net international investment position% of GDP-35%2.6 15.5 13.9 10.6 3.0 -3.1 4.8 5.2 0.1 -2.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.0 -1.3 -2.8 -8.3 0.2 2.7 2.1 0.4 -2.6 3.0 Export market share - % of world exports5 year % change-6%-13.4 -19.7 -23.5 -32.4 -32.5 -27.3 -23.1 -15.8 -4.9 -3.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)14.7 12.5 9.0 5.8 9.3 7.6 3.2 0.4 -3.5 -2.6 House price index (2015=100), deflated 1 year % change6%-0.5 4.8 -0.1 -0.3 -1.3 -1.5 -0.2 0.1 0.9 -0.2 Private sector credit flow, consolidated% of GDP14%0.7 7.1 5.3 7.1 2.8 1.7 6.8 1.5 7.4 1.6 Private sector debt, consolidated% of GDP133%140.5 146.2 144.6 147.7 147.0 148.8 151.5 148.0 145.3 142.1 General government gross debt% of GDP60%41.5 46.9 48.3 53.6 56.2 59.8 63.0 62.6 60.9 59.0 Unemployment rate3 year average10%7.2 7.7 8.1 8.0 7.9 8.2 8.8 9.0 8.9 8.3 Total financial sector liabilities, non-consolidated1 year % change16.5%7.5 20.0 28.8 -1.3 -11.6 9.3 1.4 3.9 -4.0 19.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.2 -1.1 -1.1 0.2 0.7 0.5 0.6 0.7 1.3 2.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.5 0.5 0.5 0.2 -0.3 0.2 0.7 0.6 0.2 -0.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp2.8 4.9 3.6 -2.5 -1.5 0.4 3.4 0.2 -0.4 -5.4 Employment indicators¹FinlandExternal imbalances and competitiveness1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Internal imbalancesFigures highlighted are the ones at or beyond the threshold. 
 
 
 
 
 
 
 
 
Table 4.27: The MIP scoreboard for Sweden 

118 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%7.3 6.6 5.8 5.6 5.4 5.1 4.6 4.1 3.6 2.8 Net international investment position% of GDP-35%-7.1 -5.5 -8.3 -15.5 -15.9 -2.3 -3.9 0.1 4.5 10.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-8.5 -3.3 3.2 10.3 5.1 -3.7 -8.3 -9.2 -5.5 -4.0 Export market share - % of world exports5 year % change-6%-15.9 -12.8 -12.2 -19.5 -17.2 -9.6 -9.3 -7.6 -4.6 -6.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)14.6 6.8 4.1 4.0 9.0 7.5 2.6 2.8 3.9 7.4 House price index (2015=100), deflated 1 year % change6%1.1 6.5 1.2 0.7 4.5 8.5 11.9 7.3 4.8 -3.0 Private sector credit flow, consolidated% of GDP14%5.9 5.3 7.0 2.4 4.6 4.6 7.5 8.1 13.3 9.0 Private sector debt, consolidated% of GDP133%199.2 186.7 189.1 191.0 194.3 193.3 191.5 192.0 197.9 200.0 General government gross debt% of GDP60%40.9 38.2 37.3 37.7 40.5 45.2 43.9 42.3 40.7 38.8 Unemployment rate3 year average10%6.9 7.7 8.2 8.1 7.9 8.0 7.8 7.4 7.0 6.6 Total financial sector liabilities, non-consolidated1 year % change16.5%4.0 2.8 1.8 5.6 9.7 12.6 1.8 9.1 6.9 -2.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.1 0.0 0.6 1.4 2.0 1.6 1.4 1.0 1.0 1.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.1 0.8 0.7 0.4 -0.2 -0.1 0.0 -0.1 -0.2 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp3.5 5.6 2.6 -1.3 -1.2 0.1 -3.3 -4.7 -5.1 -3.6 Figures highlighted are the ones at or beyond the threshold.1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)SwedenExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.28: The MIP scoreboard for United Kingdom   

119 

Thresholds2009201020112012201320142015201620172018Current account balance, % of GDP 3 year average-4%/6%-3.5 -3.5 -2.8 -2.8 -3.3 -4.3 -4.8 -4.9 -4.5 -4.3 Net international investment position% of GDP-35%-16.2 -7.9 -11.6 -28.1 -17.8 -22.8 -22.7 0.3 -10.0 -10.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-19.9 -20.4 -7.8 6.0 3.4 10.1 10.7 0.2 -10.8 -13.0 Export market share - % of world exports5 year % change-6%-19.8 -23.9 -25.9 -21.3 -11.6 -9.2 2.7 1.1 -1.2 -3.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.6 6.8 5.8 3.0 3.9 4.0 3.2 3.7 5.1 7.8 House price index (2015=100), deflated 1 year % change6%-9.5 4.0 -5.0 -1.5 0.7 6.4 6.0 5.5 3.1 0.7 Private sector credit flow, consolidated% of GDP14%-3.9 -0.8 1.6 1.7 6.9 6.7 3.3 11.4 8.1 5.3 Private sector debt, consolidated% of GDP133%189.7 182.5 176.8 176.5 170.8 164.5 163.0 167.8 169.7 169.1 General government gross debt% of GDP60%63.3 74.6 80.1 83.2 84.2 86.2 86.9 86.8 86.2 85.9 Unemployment rate3 year average10%6.2 7.0 7.8 7.9 7.8 7.2 6.3 5.4 4.8 4.4 Total financial sector liabilities, non-consolidated1 year % change16.5%-17.0 7.3 10.4 -3.5 -7.7 4.8 -8.5 11.7 -1.7 -0.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.0 -0.1b-0.3b0.4 1.0 1.2 0.8 0.9 0.9 1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.7 1.2 1.3 0.8 0.2 -0.5 -1.1 -1.4 -1.1 -0.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp5.2 5.6 6.3 2.1 0.8 -4.3 -6.6 -7.7 -4.9 -3.3 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. United KingdomExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
Chapter 5: Tables by Member State - Auxiliary indicators used in the economic reading of the MIP scoreboard 
Table 5.1: Auxiliary indicators for Belgium 

120 

Belgium2009201020112012201320142015201620172018Real GDP (1 year % change) -2.0 2.9 1.7 0.7 0.5 1.6 2.0 1.5 2.0 1.5 Gross fixed capital formation (% of GDP)22.8 22.1 23.0 23.0 22.2 22.8 23.0 23.2 23.1 23.8 Gross domestic expenditure on R&D (% of GDP)2.0 2.1 2.2 2.3 2.3 2.4 2.5 2.6 2.7 naCurrent plus capital account (net lending-borrowing) (% of GDP)1.5 1.6 -2.0 0.6 0.9 0.6 1.4 0.7 1.3 -1.0 Net international investment position excluding non-defaultable instruments (% of GDP) 59.8 61.6 63.9 58.6 58.5 51.8 51.7 52.2 46.5 36.6 Foreign direct investment in the reporting economy, flows (% of GDP)15.1 26.0 31.5 2.4 -5.6 -2.7 -4.3 12.2 -6.9 -11.8 Foreign direct investment in the reporting economy, stocks (% of GDP)214.8 230.4 242.2 244.0 231.9 226.9 225.3 221.8 200.8 170.1 Net trade balance of energy products (% of GDP)-3.3 -3.7 -4.7 -5.0 -4.5 -3.8 -2.7 -2.2 -2.4 -3.5 Real effective exchange rate - Euro Area trading partners (3 year % change)0.6 1.9 1.3 1.9 0.6 -0.1 0.1 1.9 2.6 2.8 Export performance against advanced economies (5 year % change)-1.3 -4.3 -0.6 -6.9 -6.7 -7.5 -12.6 -7.0 -1.7 -3.4 Terms of trade (5 year % change)-0.9 -2.0 -2.7 -2.8 0.2 -2.5 0.3 2.3 1.7 0.3 Export market share in volume (1 year % change)-1.3 -2.6 -2.2 -3.6 -3.3 1.5 0.8 4.3 -0.3 -2.2 Labour productivity (1 year % change)-1.9 2.2 0.4 0.3 0.8 1.2 1.1 0.3 0.3 0.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana4.3e3.8e3.2e2.7e2.3pUnit labour cost performance relative to EA (10 year % change)0.2 1.2 0.8 2.5 4.5 5.4 4.0 1.9 2.1 0.7 House price index (2015=100) - nominal (3 year % change)12.0 7.2 6.8 9.7 7.6 2.9 2.3p3.8p8.2 9.4pResidential construction (% of GDP)6.1 6.1 5.8 5.9 5.7 5.9 5.7 5.7 5.7 5.8 Household debt, consolidated (incl. NPISH, % of GDP)51.9 52.7 54.4 54.9 55.8 57.9 58.7 59.0 59.8 60.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)22.2e20.1e21.7e17.4e15.7e15.1e14.7e14.2e13.2e13.1pFlags:e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.1 (continued): Auxiliary indicators for Belgium 

121 

20092010201120122013201420152016201720181 year % change-0.2 0.6 1.3 0.4 -0.3 0.4 0.9 1.3 1.6 1.4 %66.9 67.7 66.7 66.9 67.5 67.7 67.6 67.6 68.0b68.6 %3.5 4.0 3.5 3.4 3.9 4.3 4.4 4.0 3.5b2.9 %21.9 22.4 18.7 19.8 23.7 23.2 22.1 20.1 19.3b15.8 %11.1 10.9 11.8b12.3 12.7 12.0 12.2 9.9 9.3b9.2 3 year change in pp-0.1b-0.3 1.7b1.2 1.8 0.2b-0.1 -2.8 -2.7b-3.0 %20.2 20.8 21.0 21.6 20.8 21.2 21.1 20.7 20.3 19.8 3 year change in pp-1.3 -0.8 0.2 1.4 0.0 0.2 -0.5 -0.1 -0.9 -1.3 %14.6 14.6 15.3 15.3 15.1 15.5 14.9 15.5 15.9 16.4 3 year change in pp-0.1 -0.6 0.6 0.7 0.5 0.2 -0.4 0.4 0.4 1.5 %5.2 5.9 5.7 6.3 5.1 5.9 5.8 5.5 5.1 4.9 3 year change in pp-1.2 0.2 0.1 1.1 -0.8 0.2 -0.5 0.4 -0.8 -0.9 %12.3 12.7 13.8 13.9 14.0 14.6 14.9 14.6 13.5 12.1 3 year change in pp-2.0 -1.1 2.1 1.6 1.3 0.8 1.0 0.6 -1.1 -2.8 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Labour Force Survey indicators, 2017: revision in the survey methodology.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatBelgiumEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.2: Auxiliary indicators for Bulgaria 

122 

Bulgaria2009201020112012201320142015201620172018Real GDP (1 year % change) -3.4 0.6 2.4 0.4 0.3 1.9 4.0 3.8 3.5 3.1 Gross fixed capital formation (% of GDP)27.8 22.3 21.0 21.2 21.3 21.1 20.9 18.5 18.4 18.8 Gross domestic expenditure on R&D (% of GDP)0.5 0.6 0.5 0.6 0.6 0.8 1.0 0.8 0.8 0.8pCurrent plus capital account (net lending-borrowing) (% of GDP)-7.0 -1.0 1.6 0.4 2.4 3.5 3.2 5.4 4.5 6.4 Net international investment position excluding non-defaultable instruments (% of GDP) -8.0 -8.7 -1.9 4.2 7.4 10.8 20.6 29.0 32.1 35.4 Foreign direct investment in the reporting economy, flows (% of GDP)7.5 3.6 3.7 3.3 3.6 1.9 4.3 2.7 3.4 1.9 Foreign direct investment in the reporting economy, stocks (% of GDP)94.2 90.7 87.8 90.0 89.5 93.1 92.8 89.6 86.8 82.3 Net trade balance of energy products (% of GDP)-5.0 -5.7 -6.3 -6.9 -6.2 -5.6 -3.8 -2.4 -3.0 -3.4 Real effective exchange rate - Euro Area trading partners (3 year % change)16.0 11.7 3.9 1.9 -0.4 -3.0 -4.1 -4.8 -3.2 -1.1 Export performance against advanced economies (5 year % change)29.1 16.8 19.8 9.1 7.0 12.7 14.4 7.2 17.1 11.1 Terms of trade (5 year % change)12.0 14.0 11.5 5.9 4.2 3.0 3.6 3.1 5.7 7.5 Export market share in volume (1 year % change)-1.7 -2.0 5.8 -1.1 5.9 -0.6 3.5 6.4 0.2 -1.7 Labour productivity (1 year % change)-1.7 4.6 4.7 2.9p0.8p1.5p3.6p3.3p1.7p3.2pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana16.0e14.5e12.8e10.2e7.7pUnit labour cost performance relative to EA (10 year % change)35.2 40.2 34.4 42.1 53.1 56.2 55.0 54.3 55.1 43.3 House price index (2015=100) - nominal (3 year % change)28.2e-10.6e-32.4e-16.7e-9.3 -2.7 2.0b11.6 19.5 24.0 Residential construction (% of GDP)4.7 2.7 2.2 1.7 1.7 1.6 1.4 2.7 2.9 2.7 Household debt, consolidated (incl. NPISH, % of GDP)29.5 28.7 26.5 25.5 25.6 25.2 23.8 23.2 22.9 23.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)7.5e7.4e7.4e7.6e7.8e7.9e7.7e7.7e7.7e7.5pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = NSI estimates; b = break in time series due to full implementation of harmonised EU methodology. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.2 (continued): Auxiliary indicators for Bulgaria 

123 

20092010201120122013201420152016201720181 year % change-1.7 -3.9 -2.2 -2.5p-0.4p0.4p0.4p0.5p1.8p-0.1p%67.2 66.7b65.9b67.1 68.4 69.0 69.3 68.7 71.3 71.5 %3.0 4.7b6.3b6.8 7.4 6.9 5.6 4.5 3.4 3.0 %15.1 21.9d25.0 28.1 28.4 23.8 21.6 17.2 12.9 12.7 %19.5 21.0b21.8 21.5 21.6 20.2 19.3 18.2 15.3 15.0 3 year change in pp-2.7b1.9b4.4b2.0 0.6b-1.6 -2.2 -3.4 -4.9 -4.3 %46.2 49.2 49.1 49.3 48.0 40.1b41.3 40.4b38.9 32.8 3 year change in pp-15.1 -11.5 4.3b3.1 -1.2 -9.0b-8.0 -7.6b-1.2b-8.5 %21.8 20.7 22.2 21.2 21.0 21.8 22.0 22.9b23.4 22.0 3 year change in pp3.4b-1.3 0.8 -0.6 0.3 -0.4 0.8 1.9b1.6 0.0 %41.9 45.7 43.6 44.1 43.0 33.1 34.2 31.9b30.0 20.9 3 year change in pp-15.8 -11.9 2.4 2.2 -2.7 -10.5 -9.9 -11.1b-3.1 -13.3 %6.9 8.0 11.0 12.5 13.0 12.1 11.6 11.9b11.1 9.0 3 year change in pp-7.8 -8.0 2.9b5.6 5.0 1.1 -0.9 -1.1b-1.0 -2.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. d:Definition differs. p:Provisional. 1)IncomeandLivingConditionsindicators:Cautiontobetakenintimecomparisons.Theincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesizefrom5200(interviewedhouseholds)to7800,theaveragesamplesizeofnewrotationalgroupsisunchanged(around2500households).In2016thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime.Thereportedbreaksreducetheinformationvalueof3yearchangeinppintheyearofreportingandthetwosubsequentyears.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatBulgariaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.3: Auxiliary indicators for Czech Republic 

124 

Czech Republic2009201020112012201320142015201620172018Real GDP (1 year % change) -4.8 2.3 1.8 -0.8 -0.5 2.7 5.3 2.5 4.4 3.0 Gross fixed capital formation (% of GDP)27.1 26.9 26.5 25.9 25.1 25.1 26.5 24.9 24.8 25.5 Gross domestic expenditure on R&D (% of GDP)1.3 1.3 1.6 1.8 1.9 2.0 1.9 1.7 1.8 1.9pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.0 -2.6 -1.8 -0.3 1.5 0.9 2.5 2.7 2.5 0.6 Net international investment position excluding non-defaultable instruments (% of GDP) 8.6 7.5 7.8 9.3 14.9 19.1 20.7 28.2 27.0 28.3 Foreign direct investment in the reporting economy, flows (% of GDP)2.5 4.9 1.9 4.5 3.5 3.9 0.9 5.6 5.2 3.5 Foreign direct investment in the reporting economy, stocks (% of GDP)66.2 70.1 69.6 74.7 77.4 77.3 75.8 78.4 78.3 77.5 Net trade balance of energy products (% of GDP)-2.7 -3.5 -4.4 -4.7 -4.8 -4.0 -2.4 -2.1 -2.6 -2.9 Real effective exchange rate - Euro Area trading partners (3 year % change)10.4 12.7 0.8 5.6 -2.4 -10.1 -8.2 -3.8 5.6 7.6 Export performance against advanced economies (5 year % change)37.9 20.9 15.8 5.2 -3.3 0.1 -1.1 0.3 5.6 9.7 Terms of trade (5 year % change)-2.4 -2.1 -1.7 -3.3 -0.9 -1.4 0.9 3.6 3.1 1.9 Export market share in volume (1 year % change)0.2 1.7 2.4 1.2 -3.5 5.0 3.1 2.1 1.1 1.0 Labour productivity (1 year % change)-3.1 3.3 2.1 -1.2 -0.8 2.2 3.8 0.8 2.8 1.6 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananananana4.0e2.8e2.1pUnit labour cost performance relative to EA (10 year % change)10.8 11.1 7.2 3.0 1.0 -1.7 -1.8 0.1 0.9 5.0 House price index (2015=100) - nominal (3 year % change)29.5e6.6e-5.5 -3.1 -1.4 0.9 6.5p14.2p24.4p30.0pResidential construction (% of GDP)3.8 4.0 3.7 3.7 3.2 3.4 3.6 3.7 3.9 4.0 Household debt, consolidated (incl. NPISH, % of GDP)28.5 29.0 30.0 30.9 31.7 30.5 30.4 31.3 29.7 32.3 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.1e11.9e11.8e10.4e10.8e10.0e10.1e10.7e12.4e12.5pFlags:e:Estimated. p:Provisional. 1) House price index: e = NSI estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
Table 5.3 (continued): Auxiliary indicators for Czech Republic 

125 

20092010201120122013201420152016201720181 year % change-1.8 -1.0 -0.3 0.4 0.3 0.6 1.4 1.6 1.6 1.3 %70.1 70.2 70.5b71.6 72.9 73.5 74.0 75.0 75.9 76.6 %2.0 3.0 2.7b3.0 3.0 2.7 2.4 1.7 1.0 0.7 %16.6 18.3 18.1 19.5 18.9 15.9 12.6 10.5 7.9 6.7 %8.5 8.8 8.3b8.9 9.1b8.1 7.5 7.0 6.3 5.6 3 year change in pp-0.7b1.9 1.6b0.4 0.3b-0.2b-1.4 -2.1b-1.8 -1.9 %14.0 14.4 15.3 15.4 14.6 14.8 14.0 13.3 12.2 12.2 3 year change in pp-4.0 -1.4 0.0 1.4 0.2 -0.5 -1.4 -1.3 -2.6 -1.8 %8.6 9.0 9.8 9.6 8.6 9.7 9.7 9.7 9.1 9.6 3 year change in pp-1.3 -0.6 0.8 1.0 -0.4 -0.1 0.1 1.1 -0.6 -0.1 %6.1 6.2 6.1 6.6 6.6 6.7 5.6 4.8 3.7 2.8 3 year change in pp-3.5 -1.2 -0.7 0.5 0.4 0.6 -1.0 -1.8 -3.0 -2.8 %6.0 6.4 6.6 6.8 6.9 7.6 6.8 6.7 5.5 4.5 3 year change in pp-2.9 -2.2 -0.6 0.8 0.5 1.0 0.0 -0.2 -2.1 -2.3 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatCzech RepublicEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.4: Auxiliary indicators for Denmark 

126 

Denmark2009201020112012201320142015201620172018Real GDP (1 year % change) -4.9 1.9 1.3 0.2 0.9 1.6 2.3 2.4 2.3 1.5 Gross fixed capital formation (% of GDP)20.2 18.1 18.2 18.8 19.1 19.2 19.9 20.9 21.2 22.4 Gross domestic expenditure on R&D (% of GDP)3.1 2.9 2.9 3.0 3.0 2.9 3.1 3.1 3.1p3.1pCurrent plus capital account (net lending-borrowing) (% of GDP)3.4 6.6 6.9 6.3 7.7 8.7 7.9 7.8 7.8 7.1 Net international investment position excluding non-defaultable instruments (% of GDP) -28.6 -21.3 -12.0 -2.7 -3.6 11.4 9.9 10.8 14.1 11.0 Foreign direct investment in the reporting economy, flows (% of GDP)1.2 -3.6 3.8 -4.9 0.2 2.0 0.6 2.5 0.9 0.3 Foreign direct investment in the reporting economy, stocks (% of GDP)46.8 43.5 43.9 43.6 41.8 49.8 49.9 58.7 56.2 55.5 Net trade balance of energy products (% of GDP)1.0 0.9 0.7 0.8 0.3 0.0 0.0 0.0 -0.1 -0.2 Real effective exchange rate - Euro Area trading partners (3 year % change)0.4 1.7 1.5 0.7 -1.3 -1.4 -1.5 -0.4 -0.7 -1.8 Export performance against advanced economies (5 year % change)7.2 -3.3 -7.1 -9.4 -11.9 -10.2 -7.5 -4.9 -1.7 -3.5 Terms of trade (5 year % change)2.7 3.3 2.0 3.1 2.4 3.7 1.6 4.3 4.2 1.6 Export market share in volume (1 year % change)0.8 -10.1 0.4 -1.9 -2.1 -0.6 0.7 1.7 -2.0 -3.0 Labour productivity (1 year % change)-1.8 4.3 1.4 0.9 0.9 0.7 1.0 0.9 0.6 -0.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana5.1e3.9e3.3e2.5e2.3pUnit labour cost performance relative to EA (10 year % change)10.7 11.7 8.4 5.6 4.9 5.5 4.5 3.0 -0.7 -2.2 House price index (2015=100) - nominal (3 year % change)-14.3 -14.2 -11.0 -1.7 -0.6 4.9 15.3 16.8 17.7 14.8 Residential construction (% of GDP)4.2 3.7 4.3 4.1 3.7 3.9 4.0 4.3 4.7 4.8 Household debt, consolidated (incl. NPISH, % of GDP)142.5 138.3 138.4 136.3 133.3 131.5 128.9 129.1 127.7 126.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)22.2e21.8e21.1e20.3e18.4e18.4e16.7e16.7e16.4e16.4pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.4 (continued): Auxiliary indicators for Denmark 

127 

20092010201120122013201420152016201720181 year % change-3.1 -2.3 0.0 -0.7 0.0 0.9 1.4 1.5 1.7 1.8 %80.2 79.4 79.3 78.6 78.1 78.1 78.5 80.0b78.8b79.4 %0.6 1.5 1.8 2.1 1.8 1.7 1.7 1.4b1.3b1.1 %13.4 15.5 16.3 15.7 14.8 14.2 12.1 12.2 12.4 10.5 %5.4 6.0 6.3 6.6 6.0 5.8 6.2 5.8b7.0b6.8 3 year change in pp1.8 1.7b2.0 1.2 0.0 -0.5 -0.4 -0.2b1.2b0.6 %17.6 18.3 17.6b17.5 18.3 17.9 17.7 16.8 17.2 17.4 3 year change in pp0.9 1.5 1.3b-0.1 0.0 0.3b0.2 -1.5 -0.7 -0.3 %13.1 13.3 12.1 12.0 11.9 12.1 12.2 11.9 12.4 12.7 3 year change in pp1.4 1.6 0.3 -1.1 -1.4 0.0 0.2 0.0 0.3 0.5 %2.3 2.7 2.3 2.7 3.6 3.2 3.7 2.6 3.1 3.4 3 year change in pp-0.8 -0.6 0.3 0.4 0.9 0.9 1.0 -1.0 -0.1 -0.3 %8.8 10.6 10.5 10.2 11.9 12.2 11.6 10.7 10.0 11.1 3 year change in pp-0.8 0.5 2.0 1.4 1.3 1.7 1.4 -1.2 -2.2 -0.5 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Labour Force Survey indicators, 2016, 2017: improvement in the data collection and introduction of CAWI (computer-assisted web interviewing) technique.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatDenmarkEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.5: Auxiliary indicators for Germany 

128 

Germany2009201020112012201320142015201620172018Real GDP (1 year % change) -5.7 4.2 3.9 0.4 0.4 2.2 1.7 2.2 2.5 1.5 Gross fixed capital formation (% of GDP)19.3 19.5 20.4 20.3 19.9 20.0 20.0 20.3 20.5 21.2 Gross domestic expenditure on R&D (% of GDP)2.7 2.7 2.8 2.9 2.8 2.9 2.9 2.9 3.1 3.1eCurrent plus capital account (net lending-borrowing) (% of GDP)5.8 5.8 6.2 7.1 6.5 7.3 8.6 8.5 8.0 7.4 Net international investment position excluding non-defaultable instruments (% of GDP) 21.0 20.9 15.5 22.1 29.5 31.7 34.5 37.9 42.0 44.7 Foreign direct investment in the reporting economy, flows (% of GDP)1.6 2.5 2.6 1.8 1.8 0.5 1.9 1.8 2.3 2.7 Foreign direct investment in the reporting economy, stocks (% of GDP)34.4 35.3 35.9 40.0 41.3 41.3 42.2 42.8 43.4 44.7 Net trade balance of energy products (% of GDP)-2.5 -2.9 -3.6 -3.6 -3.4 -2.8 -2.0 -1.5 -1.7 -2.0 Real effective exchange rate - Euro Area trading partners (3 year % change)-1.1 -1.5 -1.0 -1.3 -0.7 0.0 1.0 1.0 0.8 0.4 Export performance against advanced economies (5 year % change)1.0 -0.6 -2.3 -8.3 -6.7 -3.4 -2.1 -0.1 2.8 1.1 Terms of trade (5 year % change)-0.3 -0.8 -1.7 -2.3 0.4 -2.6 1.9 6.4 5.6 3.5 Export market share in volume (1 year % change)-4.3 1.4 1.6 -0.2 -2.7 1.1 2.6 0.2 -0.7 -1.3 Labour productivity (1 year % change)-5.8 3.8 2.7 -0.7 -0.4 1.3 0.8 1.0 1.1 0.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana3.9e3.0e2.6e1.8e1.4pUnit labour cost performance relative to EA (10 year % change)-16.4 -16.1 -13.7 -10.7 -8.4 -5.7 -1.1 3.5 7.9 11.4 House price index (2015=100) - nominal (3 year % change)0.0 3.3 5.5 8.2 10.4 10.0 11.4 16.1 19.5 21.7 Residential construction (% of GDP)5.2 5.2 5.6 5.9 5.9 5.9 5.8 6.0 6.0 6.3 Household debt, consolidated (incl. NPISH, % of GDP)62.1 59.4 57.1 56.6 55.7 54.2 53.5 53.3 53.3 53.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)26.6e25.8e25.7e23.5e20.3e19.2e18.6e18.4e14.1e13.9pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.5 (continued): Auxiliary indicators for Germany 

129 

20092010201120122013201420152016201720181 year % change0.2 0.4 1.2 1.1 0.8 0.9 0.9 1.2 1.4 1.4 %76.3 76.7b77.3b77.2 77.6 77.7 77.6 77.9 78.2 78.6 %3.5 3.3b2.8b2.4 2.3 2.2 2.0 1.7 1.6 1.4 %11.1 9.8 8.5 8.0 7.8 7.7 7.2 7.1 6.8 6.2 %8.8 8.3b7.5b7.1 6.3 6.4 6.2 6.7 6.3 5.9 3 year change in pp-0.8 -0.6b-0.9b-1.7 -2.0b-1.1b-0.9 0.4 -0.1 -0.3 %20.0 19.7 19.9 19.6 20.3 20.6 20.0 19.7 19.0 18.7 3 year change in pp-0.2 -0.9 -0.2 -0.4 0.6 0.7 0.4 -0.6 -1.6 -1.3 %15.5 15.6 15.8 16.1 16.1 16.7 16.7 16.5 16.1 16.0 3 year change in pp3.0 0.4 0.6 0.6 0.5 0.9 0.6 0.4 -0.6 -0.7 %5.4 4.5 5.3 4.9 5.4 5.0 4.4 3.7 3.4 3.1 3 year change in pp0.3 -0.3 -0.2 -0.5 0.9 -0.3 -0.5 -1.7 -1.6 -1.3 %10.9 11.2 11.2 9.9 9.9 10.0 9.8 9.6 8.7 8.1 3 year change in pp-2.7 -0.3 -0.5 -1.0 -1.3 -1.2 -0.1 -0.3 -1.3 -1.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatGermanyEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.6: Auxiliary indicators for Estonia 

130 

Estonia2009201020112012201320142015201620172018Real GDP (1 year % change) -14.4 2.7 7.4 3.1 1.3 3.0 1.8 2.6 5.7 4.8 Gross fixed capital formation (% of GDP)22.6 21.1 26.2 28.5 27.7 25.6 24.3 23.3 24.8 23.9 Gross domestic expenditure on R&D (% of GDP)1.4 1.6 2.3 2.1 1.7 1.4 1.5 1.3 1.3 1.4pCurrent plus capital account (net lending-borrowing) (% of GDP)5.9 5.2 5.3 1.5 2.9 1.8 3.8 2.7 3.6 3.4 Net international investment position excluding non-defaultable instruments (% of GDP) -30.5 -17.1 -1.7 3.2 7.4 12.7 16.6 18.5 20.1 25.7 Foreign direct investment in the reporting economy, flows (% of GDP)9.1 13.0 4.9 7.7 4.4 6.6 -3.1 3.8 6.4 3.8 Foreign direct investment in the reporting economy, stocks (% of GDP)88.7 94.0 89.0 93.6 98.3 103.1 97.3 98.8 95.2 92.7 Net trade balance of energy products (% of GDP)-2.2 -1.5 -0.4 -1.3 -2.2 -2.1 -1.5 -1.0 -0.6 -1.0 Real effective exchange rate - Euro Area trading partners (3 year % change)8.9 6.4 2.8 5.2 5.3 3.1 1.5 0.2 2.3 4.1 Export performance against advanced economies (5 year % change)26.1 18.5 34.1 17.8 17.8 28.7 8.5 -2.4 -0.6 -1.3 Terms of trade (5 year % change)7.0 3.0 1.0 -1.5 -0.7 0.4 2.9 3.4 4.9 4.3 Export market share in volume (1 year % change)-10.3 11.2 17.4 1.7 -0.9 -1.1 -4.4 2.9 -1.8 0.9 Labour productivity (1 year % change)-4.7 8.0 0.8 1.5 0.1 2.2 -1.0 2.3 3.0 3.5 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana3.2e2.2e1.7e1.9e1.3pUnit labour cost performance relative to EA (10 year % change)53.4 47.7 42.9 42.5 41.0 39.4 42.3 35.5 23.8 16.2 House price index (2015=100) - nominal (3 year % change)-31.5 -40.0 -28.0 23.0 28.8 35.0 34.5 27.3 18.1 17.1 Residential construction (% of GDP)3.1 2.6 2.7 2.9 3.4 3.8 4.0 4.5 4.6 4.6 Household debt, consolidated (incl. NPISH, % of GDP)57.4 53.0 45.6 41.9 40.1 38.9 39.7 40.1 39.6 38.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)14.2e12.4e8.1e7.1e6.8e6.6e7.7e7.7e6.8e6.9pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.6 (continued): Auxiliary indicators for Estonia  

131 

20092010201120122013201420152016201720181 year % change-10.2 -4.9 6.5 1.6 1.2 0.8 2.9 0.3 2.7 1.2 %74.0 73.9 74.7 74.8 75.1 75.2 76.7 77.5 78.8 79.1 %3.7 7.6 7.1 5.5 3.8 3.3 2.4 2.1 1.9 1.3 %27.4 32.9 22.4 20.9 18.7 15.0 13.1 13.4 12.1 11.9 %14.5b14.0 11.6 12.2 11.3 11.7 10.8 9.1 9.4 9.8 3 year change in pp5.7b5.1 2.9 -2.3b-2.7 0.1 -1.4 -2.2 -2.3 -1.0 %23.4 21.7 23.1 23.4 23.5 26.0b24.2 24.4 23.4 24.4 3 year change in pp1.4 -0.3 1.3 0.0 1.8 2.9b0.8 0.9 -2.6b0.2 %19.7 15.8 17.5 17.5 18.6 21.8 21.6 21.7 21.0 21.9 3 year change in pp1.4 -3.6 -2.0 -2.2 2.8 4.3 4.1 3.1 -0.8 0.3 %6.2 9.0 8.7 9.4 7.6 6.2 4.5 4.7 4.1 3.8 3 year change in pp-0.8 3.4 3.8 3.2 -1.4 -2.5 -4.9 -2.9 -2.1 -0.7 %5.6 9.0 10.0 9.1 8.4 7.6b6.6 5.8 5.8 5.2 3 year change in pp-1.5 2.8 4.7 3.5 -0.6 -2.4b-2.5 -2.6 -1.8b-1.4 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatEstoniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.7: Auxiliary indicators for Ireland 

132 

Ireland2009201020112012201320142015201620172018Real GDP (1 year % change) -5.1 1.8 0.3 0.2 1.4 8.6 25.2 3.7 8.1 8.2 Gross fixed capital formation (% of GDP)21.1 17.5 16.6 19.6 18.6 20.6 24.1 35.6 31.4 23.4 Gross domestic expenditure on R&D (% of GDP)1.6e1.6e1.6e1.6e1.6e1.5e1.2 1.2 1.2 1.2 Current plus capital account (net lending-borrowing) (% of GDP)-4.6 -1.1 -1.5 -3.3 1.0 -2.4 3.9 -5.8 -8.2 -5.8 Net international investment position excluding non-defaultable instruments (% of GDP) -217.2 -237.3 -239.2 -256.8 -310.2 -352.1 -243.3 -247.8 -264.5 -251.7 Foreign direct investment in the reporting economy, flows (% of GDP)22.8 16.8 15.3 25.9 29.6 38.4 82.0 34.5 19.2 16.8 Foreign direct investment in the reporting economy, stocks (% of GDP)274.8 302.5 314.3 337.8 347.8 388.4 497.6 514.8 478.8 466.2 Net trade balance of energy products (% of GDP)-2.3 -2.8 -3.3 -3.0 -3.2 -2.7 -1.5 -1.1 -1.2 -1.4 Real effective exchange rate - Euro Area trading partners (3 year % change)-1.6 -5.3 -6.5 -5.1 -3.1 -1.8 -1.5 -1.1 -2.2 -3.0 Export performance against advanced economies (5 year % change)10.5 1.4 -3.3 -10.0 -4.2 -8.9 39.4 55.3 66.6 73.8 Terms of trade (5 year % change)0.8 -4.2 -1.4 -3.6 -4.7 -5.3 2.5 0.3 0.7 -0.5 Export market share in volume (1 year % change)14.6 -7.0 -3.6 -4.0 -0.8 10.9 36.4 1.9 3.6 7.0 Labour productivity (1 year % change)3.0 6.1 2.6b0.8 -1.6 5.7 20.8 0.0 5.0 4.8 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana21.6e14.9e13.1e9.9e5.5pUnit labour cost performance relative to EA (10 year % change)15.5 4.8 -5.2 -5.6 -8.7 -15.3 -31.0 -33.1 -38.1 -42.0 House price index (2015=100) - nominal (3 year % change)-19.1 -34.9 -42.0 -37.9 -27.3 2.1 31.5 39.6 32.8 31.4 Residential construction (% of GDP)4.7 3.0 2.0 1.5 1.6 1.8 1.4 1.8 2.1 2.4 Household debt, consolidated (incl. NPISH, % of GDP)116.2 110.2 104.7 98.5 93.2 81.0 56.5 52.1 46.8 41.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)20.9e21.1e17.7e15.8e15.0e9.1e7.8e7.4e6.6e6.7pFlags:b:Break in series. e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.7 (continued): Auxiliary indicators for Ireland   

133 

20092010201120122013201420152016201720181 year % change-7.8 -4.1 -2.2b-0.5 2.9 2.7 3.6 3.7 3.0 3.2 %73.0 71.6 71.2 71.1 71.8 71.8 72.1 72.7 72.7 72.9 %3.5 6.9 8.8 9.2 8.0 6.6 5.3 4.2 3.0 2.1 %24.5 28.1 29.6 30.8 26.7 23.4 20.2 16.8 14.4 13.8 %18.3 19.4 19.1 19.2 16.4 15.3 14.3 12.6 10.9b10.1 3 year change in pp8.6b9.9b5.2 0.9 -3.0 -3.8 -4.9 -3.8 -4.4b-4.2 %25.7 27.3 29.4 30.1 29.9 27.7 26.2 24.4 22.7 na3 year change in pp2.4 4.2 5.7 4.4 2.6 -1.7 -3.9 -5.5 -5.0 na%15.0 15.2 15.2 16.3 15.7 16.4 16.2 16.8 15.6 na3 year change in pp-3.5 -2.0 -0.3 1.3 0.5 1.2 -0.1 1.1 -0.8 na%6.1 5.7 7.8 9.9 9.9 8.4 7.5 6.7 5.2 na3 year change in pp1.3 1.2 2.3 3.8 4.2 0.6 -2.4 -3.2 -3.2 na%20.0 22.9 24.2 23.4 23.9 21.0 18.7 17.8 16.2 na3 year change in pp7.1 8.6 10.5 3.4 1.0 -3.2 -4.7 -6.1 -4.8 naPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1)Youngpeopleneitherinemploymentnorineducationandtraining,2017:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource.2)Officialtransmissiondeadlinefor2018dataontheIncomeandLivingConditionsindicators is 30 November 2019 while data were extracted on 25 October 2019.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatIrelandEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.8: Auxiliary indicators for Greece 

134 

Greece2009201020112012201320142015201620172018Real GDP (1 year % change) -4.3 -5.5 -9.1p-7.3p-3.2p0.7p-0.4p-0.2p1.5p1.9pGross fixed capital formation (% of GDP)20.8 17.6 15.3p12.6p12.2p11.5p11.6p12.1p12.9p11.1pGross domestic expenditure on R&D (% of GDP)0.6e0.6e0.7 0.7 0.8 0.8 1.0 1.0 1.1 1.2pCurrent plus capital account (net lending-borrowing) (% of GDP)-11.5 -9.1 -7.3 -2.3 0.3 0.7 0.3 -1.1 -1.4 -2.6 Net international investment position excluding non-defaultable instruments (% of GDP) -83.7 -99.9 -97.4 -122.3 -129.8 -128.6 -127.8 -126.9 -126.6 -130.6 Foreign direct investment in the reporting economy, flows (% of GDP)0.8 0.2 0.4 0.7 1.2 1.1 0.6 1.4 1.7 1.8 Foreign direct investment in the reporting economy, stocks (% of GDP)13.8 13.8 12.2 11.5 12.0 11.8 14.7 15.6 17.7 18.5 Net trade balance of energy products (% of GDP)-2.2 -3.0 -3.6p-4.0p-3.7p-3.4p-2.1p-1.6p-1.8p-2.4pReal effective exchange rate - Euro Area trading partners (3 year % change)2.5 5.0 4.5 2.0 -3.5 -5.6 -5.3 -3.3 -1.9 -1.5 Export performance against advanced economies (5 year % change)-2.8 -8.8 -10.7 -18.8 -21.4 -14.0 -13.0 -11.7 -3.1 4.7 Terms of trade (5 year % change)-2.3 -1.0 -1.5p-3.5p-0.8p1.5p6.0p6.1p7.4p3.6pExport market share in volume (1 year % change)-8.5 -8.1 -6.8p-1.9p-2.2p4.0p0.2p-4.0p1.2p5.3pLabour productivity (1 year % change)-3.8 -3.0 -2.4p-1.1p-0.6p-0.2p-1.2p-0.7p0.0p0.2pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana39.7e46.8e46.3e45.0e41.6pUnit labour cost performance relative to EA (10 year % change)21.0 22.7 20.3 8.2 -0.7 -4.0 -12.1 -11.7 -13.0 -15.1 House price index (2015=100) - nominal (3 year % change)3.7e-6.7e-13.2e-20.4e-25.5e-27.1e-21.6e-14.2e-8.2e-1.9eResidential construction (% of GDP)6.5 5.0 4.6p3.1p2.2p1.0p0.7p0.6p0.6p0.7pHousehold debt, consolidated (incl. NPISH, % of GDP)52.0 61.2 63.8 64.8 65.5 63.4 61.9 60.0 56.8 56.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)14.6e15.4ena26.6e14.0e12.8e11.0e10.1e8.8e11.5pFlags:e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.8 (continued): Auxiliary indicators for Greece   

135 

20092010201120122013201420152016201720181 year % change-0.6 -2.6 -6.9p-6.3p-2.6p0.9p0.7p0.5p1.5p1.7p%67.4b67.8 67.3 67.5 67.5 67.4 67.8 68.2 68.3 68.2 %3.9b5.7 8.8 14.5 18.5 19.5 18.2 17.0 15.6 13.6 %25.7 33.0 44.7 55.3 58.3 52.4 49.8 47.3 43.6 39.9 %12.4b14.8 17.4 20.2 20.4 19.1 17.2 15.8 15.3 14.1 3 year change in pp0.4b3.5 6.0b7.8b5.6 1.7 -3.0 -4.6 -3.8 -3.1 %27.6 27.7 31.0 34.6 35.7 36.0 35.7 35.6 34.8 31.8 3 year change in pp-1.7 -0.6 2.9 7.0 8.0 5.0 1.1 -0.1 -1.2 -3.9 %19.7 20.1 21.4 23.1 23.1 22.1 21.4 21.2 20.2 18.5 3 year change in pp-0.8 -0.2 1.3 3.4 3.0 0.7 -1.7 -1.9 -1.9 -2.9 %11.0 11.6 15.2 19.5 20.3 21.5 22.2 22.4 21.1 16.7 3 year change in pp-0.5 0.1 4.0 8.5 8.7 6.3 2.7 2.1 -0.4 -5.5 %6.6 7.6 12.0 14.2 18.2 17.2 16.8 17.2 15.6 14.6 3 year change in pp-1.5 -0.5 4.5 7.6 10.6 5.2 2.6 -1.0 -1.6 -2.2 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatGreeceEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.9: Auxiliary indicators for Spain  

136 

Spain2009201020112012201320142015201620172018Real GDP (1 year % change) -3.8 0.2 -0.8 -3.0 -1.4 1.4 3.8 3.0 2.9p2.4pGross fixed capital formation (% of GDP)23.1 21.8 20.0 18.5 17.4 17.8 18.0 18.0 18.7p19.4pGross domestic expenditure on R&D (% of GDP)1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 1.2 naCurrent plus capital account (net lending-borrowing) (% of GDP)-4.0 -3.5 -2.8 0.6 2.6 2.1 2.7 3.4 2.9 2.4 Net international investment position excluding non-defaultable instruments (% of GDP) -72.3 -72.3 -76.9 -73.7 -69.7 -70.1 -64.8 -61.5 -57.2 -53.6 Foreign direct investment in the reporting economy, flows (% of GDP)0.9 2.8 2.2 1.6 3.5 2.3 1.9 3.6 2.0 3.4 Foreign direct investment in the reporting economy, stocks (% of GDP)49.0 50.5 51.6 55.4 57.7 60.0 61.2 63.7 63.7 65.4 Net trade balance of energy products (% of GDP)-2.3 -2.9 -3.8 -3.8 -3.4 -2.9 -2.0 -1.5 -1.8p-2.1pReal effective exchange rate - Euro Area trading partners (3 year % change)1.1 0.9 0.4 0.8 0.4 -0.6 -1.4 -2.3 -1.1 -0.2 Export performance against advanced economies (5 year % change)-1.1 -4.5 -1.2 -9.1 -3.8 -5.5 -2.2 0.8 6.8 2.5 Terms of trade (5 year % change)5.2 1.4 -2.7 -4.6 -1.6 -6.7 -3.6 0.4 0.7p-2.3pExport market share in volume (1 year % change)-0.8 -3.9 1.4 -2.2 0.7 0.8 1.4 3.2 0.0p-1.2pLabour productivity (1 year % change)2.7 1.9 1.8 1.1 1.0 0.3 1.0 0.9 0.2p0.1pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana8.1e6.3e5.7e4.4e3.7pUnit labour cost performance relative to EA (10 year % change)14.1 11.5 8.6 3.1 0.7 -2.4 -4.2 -8.0 -11.4 -14.5 House price index (2015=100) - nominal (3 year % change)1.1 -9.6 -15.3 -22.7 -28.5 -22.3 -5.6 8.7 15.1 18.6 Residential construction (% of GDP)7.7 6.6 5.4 4.6 3.9 4.2 4.0 4.4 4.8p5.3pHousehold debt, consolidated (incl. NPISH, % of GDP)85.0 84.4 82.5 81.6 77.8 73.4 68.0 64.5 61.2 59.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)16.4e17.2e17.4e17.9e14.9e14.0e13.7e13.2e13.5e13.6pFlags:e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.9 (continued): Auxiliary indicators for Spain 

137 

20092010201120122013201420152016201720181 year % change-6.3 -1.7 -2.5 -4.0 -2.4 1.0 2.8 2.1 2.7p2.2p%73.1 73.5 73.9 74.3 74.3 74.2 74.3 74.2 73.9 73.7 %4.3 7.3 8.9 11.0 13.0 12.9 11.4 9.5 7.7 6.4 %37.7 41.5 46.2 52.9 55.5 53.2 48.3 44.4 38.6 34.3 %18.1 17.8 18.2 18.6 18.6 17.1b15.6 14.6 13.3 12.4 3 year change in pp6.3b5.8 3.9 0.5 0.8 -1.1b-3.0 -4.0 -3.8b-3.2 %24.7 26.1 26.7 27.2 27.3 29.2 28.6 27.9 26.6 26.1 3 year change in pp0.7 2.8 2.9b2.5 1.2 2.5 1.4 0.6 -2.6 -2.5 %20.4 20.7 20.6 20.8 20.4 22.2 22.1 22.3 21.6 21.5 3 year change in pp0.1 1.0 0.8 0.4 -0.3 1.6 1.3 1.9 -0.6 -0.6 %4.5 4.9 4.5 5.8 6.2 7.1 6.4 5.8 5.1 5.4 3 year change in pp0.4 1.4 0.9 1.3 1.3 2.6 0.6 -0.4 -2.0 -1.0 %7.6 10.8 13.4 14.3 15.7 17.1 15.4 14.9 12.8 10.7 3 year change in pp1.2 4.0 6.8 6.7 4.9 3.7 1.1 -0.8 -4.3 -4.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1) Young people neither in employment nor in education and training, 2014: change in the classification of non-formal education activities.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSpainEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.10: Auxiliary indicators for France 

138 

France2009201020112012201320142015201620172018Real GDP (1 year % change) -2.9 1.9 2.2 0.3 0.6 1.0 1.1 1.1 2.3p1.7pGross fixed capital formation (% of GDP)22.1 22.1 22.4 22.5 22.0 21.8 21.5 21.8 22.5p22.9pGross domestic expenditure on R&D (% of GDP)2.2 2.2b2.2 2.2 2.2 2.2 2.3p2.2p2.2pnaCurrent plus capital account (net lending-borrowing) (% of GDP)-0.5 -0.6 -0.9 -1.1 -0.5 -1.0 -0.4 -0.4 -0.7 -0.6 Net international investment position excluding non-defaultable instruments (% of GDP) -24.2 -24.5 -23.1 -27.0 -26.9 -31.0 -29.7 -30.4 -31.9 -33.0 Foreign direct investment in the reporting economy, flows (% of GDP)0.7 1.5 1.5 1.2 1.1 0.2 1.8 1.3 1.5 2.2 Foreign direct investment in the reporting economy, stocks (% of GDP)37.0 38.1 40.2 40.5 41.3 42.1 43.9 44.7 44.3 45.8 Net trade balance of energy products (% of GDP)-2.0 -2.4 -3.0 -3.3 -3.1 -2.5 -1.8 -1.4 -1.7p-1.9pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.2 -0.2 -0.4 -0.5 -1.4 -0.7 -0.6 0.0 -0.7 -0.1 Export performance against advanced economies (5 year % change)-6.3 -10.4 -8.9 -10.0 -8.1 -8.8 -2.6 -1.0 -0.4 -2.2 Terms of trade (5 year % change)0.2 0.2 -0.7 -2.1 -0.4 -1.7 2.8 6.4 5.3p2.8pExport market share in volume (1 year % change)-0.9 -4.3 -0.4 -0.3 -1.6 -0.4 1.7 -0.4 -1.7p0.1pLabour productivity (1 year % change)-1.8 1.8 1.4 0.0 0.4 0.4 0.9 0.5 1.3p0.7pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana4.2e4.0e3.6e3.1e2.7pUnit labour cost performance relative to EA (10 year % change)-0.2 2.1 2.3 1.9 2.4 2.5 1.5 0.1 -0.3 -0.3 House price index (2015=100) - nominal (3 year % change)0.0 -0.9 4.0 10.3 3.2 -4.0 -4.9 -2.1 2.6 7.2 Residential construction (% of GDP)6.3 6.3 6.4 6.2 6.1 6.0 5.9 6.0 6.3p6.4pHousehold debt, consolidated (incl. NPISH, % of GDP)52.6 53.7 54.8 55.1 55.6 55.6 56.1 57.1 58.5 60.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)20.7e20.1e21.1e20.1e18.1e18.9e17.3e16.0e15.2e15.3pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.10 (continued): Auxiliary indicators for France  

139 

20092010201120122013201420152016201720181 year % change-1.1 0.1 0.8 0.3 0.2 0.5 0.2 0.6 1.0p1.0p%69.8e69.8e69.7e70.3e70.7e71.0 71.3 71.4 71.5 71.9 %3.3e3.9e4.0e4.1e4.4e4.5 4.6 4.6 4.2 3.8 %23.6 23.3 22.6 24.4 24.9 24.2 24.7 24.6 22.3 20.7 %12.7 12.7 12.3 12.5 11.2b11.2b12.0 11.9 11.5 11.1 3 year change in pp1.4 2.0 1.8 -0.2 -1.5b-1.1b-0.5 0.7b0.3b-0.9 %18.5 19.2 19.3 19.1 18.1 18.5 17.7 18.2 17.0 17.4 3 year change in pp-0.3 0.2 0.8b0.6 -1.1 -0.8 -1.4 0.1 -1.5 -0.3 %12.9 13.3 14.0 14.1 13.7 13.3 13.6 13.6 13.2 13.4 3 year change in pp-0.3 0.2 1.5 1.2 0.4 -0.7 -0.5 -0.1 -0.1 -0.2 %5.6 5.8 5.2 5.3 4.9 4.8 4.5 4.4 4.1 4.7 3 year change in pp0.6 1.1 -0.2 -0.3 -0.9 -0.4 -0.8 -0.5 -0.7 0.2 %8.4 9.9 9.4 8.4 8.1 9.6 8.6 8.4 8.1 8.0 3 year change in pp-0.7 0.3 0.6 0.0 -1.8 0.2 0.2 0.3 -1.5 -0.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. e:Estimated. p:Provisional. 1) Young people neither in employment nor in education and training, 2014: data are further impacted from the changes in the questionnaire introduced in 2013 and inclusion of French overseas departments (DROM).(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatFranceEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.11: Auxiliary indicators for Croatia 

140 

Croatia2009201020112012201320142015201620172018Real GDP (1 year % change) -7.4 -1.5 -0.3 -2.2 -0.5 -0.1 2.4 3.5 3.1 2.6pGross fixed capital formation (% of GDP)25.2 21.2 20.2 19.6 19.7 19.3 19.5 20.1 20.1 20.1pGross domestic expenditure on R&D (% of GDP)0.8 0.7 0.8 0.8 0.8 0.8 0.8 0.9 0.9 naCurrent plus capital account (net lending-borrowing) (% of GDP)-6.6 -2.1 -1.7 -1.8 -0.9 0.7 3.9 3.6 4.4 3.3 Net international investment position excluding non-defaultable instruments (% of GDP) -49.0 -50.9 -53.1 -50.7 -49.9 -45.1 -38.2 -27.7 -19.4 -13.7 Foreign direct investment in the reporting economy, flows (% of GDP)4.8 2.5 2.0 2.3 1.7 5.3 0.1 0.8 0.9 1.9 Foreign direct investment in the reporting economy, stocks (% of GDP)51.5 55.1 51.1 52.5 51.3 56.9 51.0 51.2 49.9 48.1 Net trade balance of energy products (% of GDP)-3.6 -3.8 -5.4 -5.6 -5.1 -4.0 -3.4 -2.7 -2.9 -3.2pReal effective exchange rate - Euro Area trading partners (3 year % change)4.1 4.3 -2.2 -2.6 -2.9 -1.4 -1.2 -1.1 0.6 1.2 Export performance against advanced economies (5 year % change)4.0 -3.3 -9.1 -18.2 -17.8 -13.9 -4.7 7.2 19.8 20.5 Terms of trade (5 year % change)5.2 5.8 4.8 2.9 1.4 0.7 0.5 1.4 2.3 1.8pExport market share in volume (1 year % change)-3.8 -5.2 -4.5 -4.6 -1.2 3.7 7.4 4.9 1.3 4.0pLabour productivity (1 year % change)-6.7d2.4d3.7d1.4d2.1d-2.7d1.2d3.2d0.9d0.8dGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana13.6e13.0e10.7e8.8e7.3pUnit labour cost performance relative to EA (10 year % change)10.5 7.9 12.1 5.1 -0.7 -4.4 -7.3 -10.2 -14.1 -15.5 House price index (2015=100) - nominal (3 year % change)9.5e-8.4e-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 1.7 11.1 Residential construction (% of GDP)nanananananananananaHousehold debt, consolidated (incl. NPISH, % of GDP)39.9 41.8 41.4 41.1 40.2 40.0 38.4 35.1 34.2 34.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)nananana7.5e7.2e8.0e7.2e7.4e7.5pFlags:d:Definition differs. e:Estimated. p:Provisional. 1)Labourproductivity,d:employmentdatausenationalconceptinsteadofdomesticconcept.2)Housepriceindex:e=estimatebyNCB.3)Officialtransmissiondeadlinefor2018dataonGrossdomesticexpenditureonR&Dis31October2019whiledatawereextractedon25October2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.11 (continued): Auxiliary indicators for Croatia 

141 

20092010201120122013201420152016201720181 year % change-0.7d-3.8d-3.9d-3.6d-2.6d2.7d1.2d0.3d2.2d1.8d%65.6 65.1 64.1 63.9 63.7 66.1 66.9 65.6 66.4 66.3 %5.1 6.6 8.4 10.2 11.0 10.1 10.2 6.6 4.6 3.4 %25.4 32.3 36.6 42.2 49.9 44.9 42.3 31.8 27.2 23.4 %13.4 15.7 16.2 16.6 19.6 19.3 18.1 16.9 15.4 13.6 3 year change in pp-0.8b2.8 4.6 3.2 3.9 3.1 1.5 -2.7 -3.9 -4.5 %na31.1 32.6 32.6 29.9 29.3 29.1 27.9 26.4 24.8 3 year change in ppnananana-1.2 -3.3 -3.5 -2.0 -2.9 -4.3 %na20.6 20.9 20.4 19.5 19.4 20.0 19.5 20.0 19.3 3 year change in ppnananana-1.1 -1.5 -0.4 0.0 0.6 -0.7 %na14.3 15.2 15.9 14.7 13.9 13.7 12.5 10.3 8.6 3 year change in ppnananana0.4 -1.3 -2.2 -2.2 -3.6 -5.1 %na13.9 15.9 16.8 14.8 14.7 14.4 13.0 12.2 11.2 3 year change in ppnananana0.9 -1.2 -2.4 -1.8 -2.5 -3.2 CroatiaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. d:Definition differs. 1) Employment rate, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 5.12: Auxiliary indicators for Italy  

142 

Italy2009201020112012201320142015201620172018Real GDP (1 year % change) -5.3 1.7 0.7 -3.0 -1.8 0.0 0.8 1.3 1.7 0.8 Gross fixed capital formation (% of GDP)20.1 20.0 19.7 18.3 17.2 16.7 16.9 17.2 17.4 17.7 Gross domestic expenditure on R&D (% of GDP)1.2 1.2 1.2 1.3 1.3 1.3e1.3 1.4b1.4 naCurrent plus capital account (net lending-borrowing) (% of GDP)-1.8 -3.3 -2.8 -0.1 1.1 2.1 1.8 2.4 2.7 2.6 Net international investment position excluding non-defaultable instruments (% of GDP) -20.9 -22.3 -22.3 -24.6 -23.9 -21.2 -17.5 -11.6 -6.1 -6.2 Foreign direct investment in the reporting economy, flows (% of GDP)0.9 0.4 1.5 0.0 0.9 0.8 0.7 1.4 0.6 1.9 Foreign direct investment in the reporting economy, stocks (% of GDP)22.0 20.2 21.4 23.0 23.7 25.0 25.5 26.3 26.2 27.3 Net trade balance of energy products (% of GDP)-2.6 -3.2 -3.6 -3.8 -3.3 -2.6 -2.0 -1.5 -1.9 -2.3 Real effective exchange rate - Euro Area trading partners (3 year % change)0.3 0.7 0.9 1.4 1.0 0.4 -0.7 -0.9 -0.8 -1.3 Export performance against advanced economies (5 year % change)-11.1 -12.4 -12.9 -18.2 -14.7 -9.8 -8.7 -6.0 -1.6 -1.7 Terms of trade (5 year % change)-1.3 -2.7 -2.3 -4.8 -0.8 -3.8 2.5 8.6 8.5 6.0 Export market share in volume (1 year % change)-7.8 -1.2 -1.4 -1.1 -3.3 -1.1 1.4 -0.3 0.4 -1.6 Labour productivity (1 year % change)-3.7 2.4 0.4 -2.7 -0.1 -0.1 0.1 -0.1 0.5 -0.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana16.5e16.5e15.0e11.2e8.4pUnit labour cost performance relative to EA (10 year % change)11.6 13.8 12.8 10.4 6.7 4.1 3.7 1.8 -0.5 -1.2 House price index (2015=100) - nominal (3 year % change)7.2e2.9be1.6e-0.5e-7.6 -13.1 -14.3 -8.1 -4.6 -1.4 Residential construction (% of GDP)5.5 5.5 5.2 4.9 4.7 4.3 4.1 4.1 4.1 4.2 Household debt, consolidated (incl. NPISH, % of GDP)42.5 43.6 43.8 44.0 43.5 42.7 41.9 41.3 41.0 41.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.8e12.7e14.9e14.4e15.0e14.0e13.1e14.2e12.2e13.1pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB. 2) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.12 (continued): Auxiliary indicators for Italy 

143 

20092010201120122013201420152016201720181 year % change-1.6 -0.6 0.3 -0.3 -1.8 0.1 0.7 1.4 1.2 0.9 %62.3 62.0 62.1 63.5 63.4 63.9 64.0 64.9 65.4 65.6 %3.4 4.0 4.3 5.6 6.9 7.7 6.9 6.7 6.5 6.2 %25.3 27.9 29.2 35.3 40.0 42.7 40.3 37.8 34.7 32.2 %17.6 19.0 19.7 21.0 22.2 22.1 21.4 19.9 20.1 19.2 3 year change in pp0.8b2.9 3.1 3.4 3.2 2.4 0.4 -2.3 -2.0 -2.2 %24.9 25.0 28.1 29.9 28.5 28.3 28.7 30.0 28.9 27.3 3 year change in pp-1.0 -1.0 2.6 5.0 3.5 0.2 -1.2 1.5 0.6 -1.4 %18.4 18.7 19.8 19.5 19.3 19.4 19.9 20.6 20.3 20.3 3 year change in pp-0.9 -0.8 0.9 1.1 0.6 -0.4 0.4 1.3 0.9 0.4 %7.3 7.4 11.1 14.5 12.3 11.6 11.5 12.1 10.1 8.5 3 year change in pp0.9 0.4 3.6 7.2 4.9 0.5 -3.0 -0.2 -1.5 -3.0 %9.2 10.6 10.5 10.6 11.3 12.1 11.7 12.8 11.8 11.3 3 year change in pp-2.1 0.4 0.1 1.4 0.7 1.6 1.1 1.5 -0.3 -0.4 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatItalyEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.13: Auxiliary indicators for Cyprus 

144 

Cyprus2009201020112012201320142015201620172018Real GDP (1 year % change) -2.0 2.0 0.4 -3.4 -6.6 -1.9 3.4 6.7 4.4 4.1pGross fixed capital formation (% of GDP)23.4 22.5 19.0 15.5 14.1 12.9 12.6 17.8 21.1 19.1pGross domestic expenditure on R&D (% of GDP)0.4 0.4 0.5 0.4 0.5 0.5 0.5 0.5 0.6 naCurrent plus capital account (net lending-borrowing) (% of GDP)-6.3 -10.5 -2.0 -4.4 -1.0 -3.5 -0.6 -4.1 -4.7 -3.8 Net international investment position excluding non-defaultable instruments (% of GDP) -43.8 -57.2 -100.8 -104.1 -141.5 -197.8 -259.1 -228.3 -210.1 -175.0 Foreign direct investment in the reporting economy, flows (% of GDP)252.2 120.7 146.1 276.8 108.8 223.3 146.5 40.9 80.9 22.2 Foreign direct investment in the reporting economy, stocks (% of GDP)968.5 1041.1 1156.6 1436.8 1650.4 1943.9 2138.7 2075.9 1945.1 1890.1 Net trade balance of energy products (% of GDP)-4.6 -5.9 -6.7 -7.6 -6.4 -5.9 -4.0 -3.3 -4.1 -4.2pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.3 0.4 0.7 2.0 1.0 -0.1 -2.6 -3.5 -3.9 -3.2 Export performance against advanced economies (5 year % change)-1.5e-9.0e-3.5e-12.8e-5.7 -14.7 -3.7 5.7 15.4 14.2 Terms of trade (5 year % change)-4.0 -1.9 -1.7 -2.1 -0.6 -0.9 0.4 1.7 2.1 1.4pExport market share in volume (1 year % change)5.3 -6.9 0.2 -3.6 -2.5 2.5 7.0 5.0 3.1 1.2pLabour productivity (1 year % change)-2.0 1.4 0.1 0.1 -1.0 0.1 1.8 2.0 -0.9 0.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana38.6e36.3e35.4e30.7e20.2pUnit labour cost performance relative to EA (10 year % change)13.4 13.2 15.0 15.1 2.9 -1.8 -6.7 -9.2 -9.1 -9.7 House price index (2015=100) - nominal (3 year % change)10.3 -6.9 -13.3 -10.1 -8.5 -8.7 -7.1b-2.9 1.0 4.4 Residential construction (% of GDP)9.8 8.0 6.2 4.9 4.1 3.9 3.6 4.4 5.1 5.8pHousehold debt, consolidated (incl. NPISH, % of GDP)113.5 118.4 121.9 127.9 129.6 131.6 127.3 116.6 105.1 97.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)17.2e15.2e19.9e26.0e16.2e10.3e10.7e10.7e12.1e14.1pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index b = break in time series due to full implementation of harmonised EU methodology. 2) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.13 (continued): Auxiliary indicators for Cyprus 

145 

20092010201120122013201420152016201720181 year % change0.0 0.6 0.3 -3.5 -5.6 -2.0 1.6 4.7 5.3 4.1p%73.0b73.6 73.5 73.5 73.6 74.3 73.9 73.4 73.9 75.0 %0.6b1.3 1.6 3.6 6.1 7.7 6.8 5.8 4.5 2.7 %13.8 16.6 22.4 27.7 38.9 36.0 32.8 29.1 24.7 20.2 %9.9b11.7 14.6 16.0 18.7 17.0 15.3 16.0 16.1 13.2 3 year change in pp-0.8b2.7 4.9 6.1b7.0 2.4 -0.7 -2.7 -0.9 -2.1 %23.5 24.6 24.6 27.1 27.8 27.4 28.9 27.7 25.2 23.9 3 year change in pp-1.9 -0.6 1.3b3.6 3.2 2.8 1.8 -0.1 -2.2 -5.0 %15.8 15.6 14.8 14.7 15.3 14.4 16.2 16.1 15.7 15.4 3 year change in pp0.2 0.1 -1.1 -1.1 -0.3 -0.4 1.5 0.8 1.3 -0.8 %9.5 11.2 11.7 15.0 16.1 15.3 15.4 13.6 11.5 10.2 3 year change in pp-3.1 -2.1 2.6 5.5 4.9 3.6 0.4 -2.5 -3.8 -5.2 %4.0 4.9 4.9 6.5 7.9 9.7 10.9 10.6 9.4 8.6 3 year change in pp0.2 1.2 0.4b2.5 3.0 4.8 4.4 2.7 -0.3 -2.3 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatCyprusEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.14: Auxiliary indicators for Latvia 

146 

Latvia2009201020112012201320142015201620172018Real GDP (1 year % change) -14.2 -4.5 6.3 4.1 2.3 1.9 3.3 1.8 3.8 4.6 Gross fixed capital formation (% of GDP)22.4 19.2 22.0 25.3 23.1 22.6 22.0 19.5 20.7 22.5 Gross domestic expenditure on R&D (% of GDP)0.5 0.6 0.7 0.7 0.6 0.7 0.6 0.4 0.5 0.6pCurrent plus capital account (net lending-borrowing) (% of GDP)10.1 3.8 -1.1 -0.7 -0.2 0.9 1.9 2.5 1.7 1.1 Net international investment position excluding non-defaultable instruments (% of GDP) -43.7 -41.6 -31.7 -25.1 -21.3 -19.4 -13.7 -10.2 -7.0 -2.4 Foreign direct investment in the reporting economy, flows (% of GDP)-0.6 2.0 5.4 3.8 3.3 3.3 3.0 1.2 3.7 1.3 Foreign direct investment in the reporting economy, stocks (% of GDP)45.7 49.3 49.9 49.4 53.9 56.5 59.5 58.3 59.8 55.5 Net trade balance of energy products (% of GDP)-4.4 -4.9 -5.5 -6.1 -5.6 -4.7 -3.5 -2.5 -3.0 -3.4 Real effective exchange rate - Euro Area trading partners (3 year % change)18.9 8.3 0.3 -0.7 0.2 -1.3 -2.2 -0.3 0.7 1.3 Export performance against advanced economies (5 year % change)65.5 31.6 36.4 18.9 13.5 19.5 14.8 7.9 5.2 6.5 Terms of trade (5 year % change)1.5 2.6 6.3 -1.3 1.0 0.0 0.4 0.4 3.8 5.0 Export market share in volume (1 year % change)-2.9 0.4 5.2 6.7 -2.6 2.8 0.0 1.8 0.8 0.6 Labour productivity (1 year % change)0.1 2.3 4.7 2.6 0.0 3.3 1.8 2.1 3.8 3.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana9.7e6.5e6.3e5.6e5.3pUnit labour cost performance relative to EA (10 year % change)60.3 48.9 47.5 56.0 58.7 56.5 44.9 31.8 7.8 -4.4 House price index (2015=100) - nominal (3 year % change)-13.6 -43.6 -38.4 1.2 21.5 16.6 9.5 11.1 14.0 29.3 Residential construction (% of GDP)2.4 1.7 1.9 2.2 2.2 2.5 2.4 2.1 2.1 2.2 Household debt, consolidated (incl. NPISH, % of GDP)50.8 49.7 40.3 32.7 29.2 26.4 24.6 23.7 22.2 20.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.2e12.7e10.7e10.2e9.9e10.2e9.5e9.9e8.9e7.8pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.14 (continued): Auxiliary indicators for Latvia  

147 

20092010201120122013201420152016201720181 year % change-14.3 -6.7 1.5 1.4 2.3 -1.3 1.4 -0.3 0.0 1.6 %73.5 73.0 72.8 74.4 74.0 74.6 75.7 76.3 77.0 77.7 %4.5 8.8 8.8 7.8 5.7 4.6 4.5 4.0 3.3 3.1 %33.3 36.2 31.0 28.5 23.2 19.6 16.3 17.3 17.0 12.2 %17.5 17.8 16.0 14.9 13.0 12.0 10.5 11.2 10.3 7.8 3 year change in pp6.0b5.9 4.2 -2.6 -4.8 -4.0 -4.4 -1.8 -1.7 -2.7 %37.9 38.2 40.1 36.2 35.1 32.7 30.9 28.5 28.2 28.4 3 year change in pp-4.3 3.1 5.9b-1.7 -3.1 -7.4 -5.3 -6.6 -4.5 -2.5 %26.4 20.9 19.0 19.2 19.4 21.2 22.5 21.8 22.1 23.3 3 year change in pp2.9 -0.3 -6.9 -7.2 -1.5 2.2 3.3 2.4 0.9 0.8 %22.1 27.6 31.0 25.6 24.0 19.2 16.4 12.8 11.3 9.5 3 year change in pp-9.2 3.6 11.7 3.5 -3.6 -11.8 -9.2 -11.2 -7.9 -6.9 %7.4 12.6 12.6 11.7 10.0 9.6 7.8 7.2 7.8 7.6 3 year change in pp0.3 6.4 7.2 4.3 -2.6 -3.0 -3.9 -2.8 -1.8 -0.2 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatLatviaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.15: Auxiliary indicators for Lithuania 

148 

Lithuania2009201020112012201320142015201620172018Real GDP (1 year % change)* -14.8 1.5b6.0 3.8 3.6 3.5 2.0 2.6 4.2 3.6 Gross fixed capital formation (% of GDP)*17.9 16.9b18.5 17.4 18.5 18.9 19.6 19.9 20.0 20.5 Gross domestic expenditure on R&D (% of GDP)0.8 0.8 0.9 0.9 1.0 1.0 1.0 0.8 0.9 0.9pCurrent plus capital account (net lending-borrowing) (% of GDP)6.4 4.0 -0.5 1.3 4.8 6.1 0.6 0.3 1.7 1.8 Net international investment position excluding non-defaultable instruments (% of GDP) -30.1 -25.3 -21.5 -22.9 -18.7 -16.9 -13.5 -12.5 -7.7 -2.7 Foreign direct investment in the reporting economy, flows (% of GDP)-1.0 2.9 4.3 1.6 1.6 0.8 2.5 3.1 2.8 2.7 Foreign direct investment in the reporting economy, stocks (% of GDP)40.8 43.9 42.3 41.9 42.5 41.2 42.6 44.6 44.2 43.4 Net trade balance of energy products (% of GDP)*-4.1 -7.1b-7.6 -7.5 -6.1 -4.7 -3.6 -2.6 -3.0 -4.0 Real effective exchange rate - Euro Area trading partners (3 year % change)12.9 9.9 4.8 1.7 1.4 -0.1 -1.6 -0.9 1.4 3.0 Export performance against advanced economies (5 year % change)41.9 26.0 35.8 39.9 19.9 27.4 7.7 -3.4 0.9 1.4 Terms of trade (5 year % change)*-1.3 -1.7b0.4 -1.4 -5.1 -0.5 1.4 4.0 5.2 4.5 Export market share in volume (1 year % change)*-2.8 2.9b7.7 7.7 3.6 -5.5 -0.5 2.7 8.0 2.9 Labour productivity (1 year % change)*-7.7 7.0b5.4 1.9 2.2 1.4 0.6 0.3 5.0 2.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana6.8e5.6e4.0e3.2e2.6pUnit labour cost performance relative to EA (10 year % change)0.3 4.6 10.2 9.6 13.1 12.0 12.1 7.3 8.9 7.9 House price index (2015=100) - nominal (3 year % change)-3.5 -29.3 -30.8 -1.5 7.7 7.5 11.7 16.3 19.0 23.2 Residential construction (% of GDP)*3.3 2.1b2.0 1.9 2.2 2.5 2.8 3.0 2.7 2.7 Household debt, consolidated (incl. NPISH, % of GDP)32.6 29.6 25.8 23.7 22.4 21.5 22.2 22.8 22.4 22.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)17.8e14.2e11.3e10.2e9.6e9.7e9.0e11.6e10.7e10.4pFlags:b:Break in series. e:Estimated. p:Provisional. *) 2010: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.15 (continued): Auxiliary indicators for Lithuania 

149 

20092010201120122013201420152016201720181 year % change-7.7 -5.2b0.6 1.9 1.4 2.0 1.4 2.3 -0.7 1.4 %69.6 70.2 71.4 71.8 72.4 73.7 74.1 75.5 75.9 77.3 %3.3 7.4 8.0 6.6 5.1 4.8 3.9 3.0 2.7 2.0 %29.6 35.7 32.6 26.7 21.9 19.3 16.3 14.5 13.3 11.1 %12.1 13.2 11.8 11.2 11.1 9.9 9.2 9.4 9.1 8.0 3 year change in pp3.8b6.1 3.0 -0.9 -2.1 -1.9 -2.0 -1.7 -0.8 -1.2 %29.6 34.0 33.1 32.5 30.8 27.3 29.3 30.1 29.6 28.3 3 year change in pp-6.3 5.3 4.8 2.9 -3.2 -5.8 -3.2 -0.7 2.3 -1.0 %20.3 20.5 19.2 18.6 20.6 19.1 22.2 21.9 22.9 22.9 3 year change in pp0.3 1.4 -1.7 -1.7 0.1 -0.1 3.6 1.3 3.8 0.7 %15.6 19.9 19.0 19.8 16.0 13.6 13.9 13.5 12.4 11.1 3 year change in pp-9.7 3.3 6.5 4.2 -3.9 -5.4 -5.9 -2.5 -1.2 -2.8 %7.2 9.5 12.7 11.4 11.0 8.8 9.2 10.2 9.7 9.0 3 year change in pp-1.1 3.1 6.6 4.2 1.5 -3.9 -2.2 -0.8 0.9 -0.2 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Employment rate, 2010: temporary series break caused by implementation of benchmark revision in 2019 (2010-2018).(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatLithuaniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.16: Auxiliary indicators for Luxembourg 

150 

Luxembourg2009201020112012201320142015201620172018Real GDP (1 year % change) -4.4 4.9 2.5 -0.4 3.7 4.3 4.3 4.6 1.8 3.1 Gross fixed capital formation (% of GDP)18.4 17.6 19.2 20.2 19.5 20.0 18.2 18.1 18.8 16.8 Gross domestic expenditure on R&D (% of GDP)1.7 1.5 1.5 1.3b1.3 1.3 1.3 1.3 1.3 naCurrent plus capital account (net lending-borrowing) (% of GDP)6.1 6.2 5.6 4.8 4.4 3.9 4.6 4.7 4.5 6.1 Net international investment position excluding non-defaultable instruments (% of GDP) -1591.8 -1850.5 -1942.7 -2455.5 -2691.2 -3307.2 -3772.6 -3681.2 -3875.6 -3523.8 Foreign direct investment in the reporting economy, flows (% of GDP)410.6 423.7 679.9 971.6 1024.1 276.6 1295.6 192.6 126.4 -722.2 Foreign direct investment in the reporting economy, stocks (% of GDP)3505.4 3640.8 4666.0 5978.7 6465.3 7976.5 9415.9 9180.9 8494.8 7466.2 Net trade balance of energy products (% of GDP)-4.1 -4.8 -5.9 -6.3 -5.4 -4.4 -3.1 -2.4 -2.8 -3.3 Real effective exchange rate - Euro Area trading partners (3 year % change)0.9 1.7 2.0 2.8 1.7 0.8 0.1 -0.4 0.0 0.4 Export performance against advanced economies (5 year % change)21.3 11.7 3.7 4.1 16.0 24.2 31.3 30.5 18.0 8.5 Terms of trade (5 year % change)3.6 4.6 3.0 4.2 2.8 2.0 0.2 0.2 -0.4 -0.2 Export market share in volume (1 year % change)-1.6 -2.6 -2.8 -0.3 1.6 12.7 1.8 0.4 -4.9 -2.9 Labour productivity (1 year % change)-5.4 3.0 -0.4 -2.7 1.8 1.7 1.7 1.5 -1.6 -0.6 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana1.4e1.1e0.8e0.7e0.8pUnit labour cost performance relative to EA (10 year % change)21.4 19.1 15.6 17.4 17.2 16.1 13.5 12.1 17.9 13.4 House price index (2015=100) - nominal (3 year % change)9.3e7.7 8.0 13.9 13.4 14.2 15.5 16.6 18.0 19.9 Residential construction (% of GDP)3.5 2.9 3.0 3.2 3.6 3.8 4.0 4.0 3.6 3.8 Household debt, consolidated (incl. NPISH, % of GDP)58.2 57.9 57.7 61.0 60.2 60.8 61.9 63.7 66.2 66.3 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.5e16.8e17.7e15.1e13.9e13.4e13.4e13.4e13.2e14.6pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e =  NSI&NCB estimates. 2) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.16 (continued): Auxiliary indicators for Luxembourg   

151 

20092010201120122013201420152016201720181 year % change1.0 1.8 3.0 2.4 1.8 2.6 2.6 3.0 3.4 3.7 %68.7b68.2 67.9 69.4 69.9 70.8 70.9b70.0 70.2 71.1 %1.2b1.3 1.4 1.6 1.8 1.6 1.9b2.2 2.1 1.4 %16.5 15.8 16.4 18.0 16.9 22.3 16.6 19.1 15.5 14.1 %5.8b5.1 4.7 5.9 5.0 6.3 6.2b5.4 5.9 5.3 3 year change in pp-0.9b-0.6b-1.5 0.1b-0.1 1.6 0.3b0.4 -0.4 -0.9b%17.8 17.1 16.8 18.4 19.0 19.0 18.5 19.8b21.5 21.9 3 year change in pp1.3 1.2 1.3 0.6 1.9 2.2 0.1 0.8b2.5 3.4 %14.9 14.5 13.6 15.1 15.9 16.4 15.3 16.5b18.7 18.3 3 year change in pp0.8 1.0 0.2 0.2 1.4 2.8 0.2 0.6b2.3 3.0 %1.1 0.5 1.2 1.3 1.8 1.4 2.0 1.6b1.2 1.3 3 year change in pp0.0 -0.3 0.5 0.2 1.3 0.2 0.7 -0.2b-0.2 -0.7 %6.3 5.5 5.8 6.1 6.6 6.1 5.7 6.6b6.9 8.3 3 year change in pp1.1 0.5 1.1 -0.2 1.1 0.3 -0.4 0.0b0.8 2.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1)LabourForceSurveyindicators,2015:changeinthesamplingstrategyanddatacollectiontechnique.2)IncomeandLivingConditionsindicators:Cautiontobetakenintimecomparisons.In2016newproceduresdevelopedindatavalidationandcompilation,weighting,estimationand imputation, adjustment. Better coverage of certain segments of the resident population by use of Luxembourg's National Population Register. The reported breaks reduce the information value of 3 year change in pp in the year of reporting and the two subsequent years.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatLuxembourgEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.17: Auxiliary indicators for Hungary 

152 

Hungary2009201020112012201320142015201620172018Real GDP (1 year % change) -6.7 0.7 1.8 -1.5 2.0 4.2 3.8 2.2 4.3 5.1 Gross fixed capital formation (% of GDP)22.7 20.2 19.7 19.2 20.8 22.1 22.3 19.7 22.2 25.2 Gross domestic expenditure on R&D (% of GDP)1.1 1.1 1.2 1.3 1.4 1.4 1.4 1.2 1.3 1.5 Current plus capital account (net lending-borrowing) (% of GDP)1.0 2.1 3.0 4.1 7.2 4.9 6.9 4.6 3.1 2.1 Net international investment position excluding non-defaultable instruments (% of GDP) -51.4 -49.3 -47.5 -42.0 -35.2 -29.6 -18.4 -12.1 -8.8 -4.2 Foreign direct investment in the reporting economy, flows (% of GDP)-2.4 -15.9 10.0 8.2 -2.7 9.5 -4.3 55.7 -8.2 -43.8 Foreign direct investment in the reporting economy, stocks (% of GDP)226.7 214.1 235.9 226.9 211.5 217.2 221.0 259.3 210.6 163.1 Net trade balance of energy products (% of GDP)-4.9 -5.1 -6.0 -6.3 -6.3 -6.1 -4.1 -3.1 -3.7 -3.8 Real effective exchange rate - Euro Area trading partners (3 year % change)5.2 0.0 -2.5 4.6 -3.0 -7.0 -7.3 -5.3 0.4 -1.0 Export performance against advanced economies (5 year % change)19.6 9.1 3.1 -15.4 -17.3 -11.2 -8.3 -4.2 7.8 6.3 Terms of trade (5 year % change)-2.7 -1.0 -1.1 -2.4 -1.1 -1.2 -0.5 1.5 1.9 0.3 Export market share in volume (1 year % change)-0.7 -1.9 -0.4 -4.8 0.4 5.5 4.5 1.6 1.3 0.9 Labour productivity (1 year % change)-4.9 1.3 1.8 -2.3 0.7 -0.4 1.6 -1.5 2.4 2.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana19.4e15.2e11.9e8.4e5.3pUnit labour cost performance relative to EA (10 year % change)47.1 34.1 23.6 20.0 13.2 9.0 3.3 6.2 5.2 9.1 House price index (2015=100) - nominal (3 year % change)na-5.3 -10.7 -9.2 -9.4 -2.2 14.8 33.6 43.9 45.5 Residential construction (% of GDP)4.1 3.1 2.2 2.0 1.8 1.9 2.2 2.4 2.7 3.0 Household debt, consolidated (incl. NPISH, % of GDP)37.5 39.4 37.3 31.5 28.0 25.5 21.3 20.3 18.8 18.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.4e12.3e13.5e11.5e10.7e10.9e11.2e9.9e9.7e9.4pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.17 (continued): Auxiliary indicators for Hungary 

153 

20092010201120122013201420152016201720181 year % change-1.9 -0.7 0.0 0.9 1.3 4.6 2.2 3.7 1.9 2.4 %61.2 61.9 62.4 63.7 64.7 67.0 68.6 70.1 71.2 71.9 %4.2 5.5 5.2 5.0 4.9 3.7 3.1 2.4 1.7 1.4 %26.4 26.4 26.0 28.2 26.6 20.4 17.3 12.9 10.7 10.2 %13.6 12.6 13.2 14.8 15.5 13.6 11.6b11.0 11.0 10.7 3 year change in pp1.2b1.1 1.7 1.2 2.9 0.4 -3.2b-4.5 -2.6 -0.9b%29.6 29.9 31.5 33.5 34.8 31.8 28.2 26.3 25.6 19.6 3 year change in pp-1.8 0.5 3.3 3.9 4.9 0.3 -5.3 -8.5 -6.2 -8.6 %12.4 12.3 14.1 14.3 15.0 15.0 14.9 14.5 13.4 12.8 3 year change in pp-3.5 0.0 1.7 1.9 2.7 0.9 0.6 -0.5 -1.6 -2.1 %20.3 21.6 23.4 26.3 27.8 24.0 19.4 16.2 14.5 10.1 3 year change in pp-0.6 1.7 5.5 6.0 6.2 0.6 -6.9 -11.6 -9.5 -9.3 %11.3 11.9 12.8 13.5 13.6 12.8 9.4 8.2 6.6 5.7 3 year change in pp-1.8 0.6 0.8 2.2 1.7 0.0 -4.1 -5.4 -6.2 -3.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatHungaryEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.18: Auxiliary indicators for Malta 

154 

Malta2009201020112012201320142015201620172018Real GDP (1 year % change) -2.5 3.5 1.3 2.8 4.6 8.7 10.8 5.7 6.7 6.8 Gross fixed capital formation (% of GDP)18.2 21.4 17.9 18.1 17.4 17.3 24.8 23.6 20.5 19.0 Gross domestic expenditure on R&D (% of GDP)0.5 0.6 0.7 0.8 0.8 0.7 0.7 0.6 0.6 0.6 Current plus capital account (net lending-borrowing) (% of GDP)-7.3 -4.3 -0.8 1.5 1.9 7.5 5.6 4.1 12.1 12.3 Net international investment position excluding non-defaultable instruments (% of GDP) 93.6 224.6 218.3 268.0 225.0 211.5 198.0 208.2 243.0 248.0 Foreign direct investment in the reporting economy, flows (% of GDP)16.8 106.3 82.1 36.1 5.6 2.8 34.0 27.6 31.2 32.2 Foreign direct investment in the reporting economy, stocks (% of GDP)1698.3 1859.2 2026.2 2051.0 1972.3 1840.7 1720.9 1694.3 1629.9 1568.6 Net trade balance of energy products (% of GDP)-0.1 1.1 -2.8 -12.2 -9.0 -14.9 -8.8 -8.2 -6.4 -8.5 Real effective exchange rate - Euro Area trading partners (3 year % change)1.5 3.5 1.9 1.1 0.1 0.7 0.8 1.8 1.2 0.3 Export performance against advanced economies (5 year % change)58.1 49.1 26.8 23.6 6.5 -6.6 10.3 20.0 20.8 21.5 Terms of trade (5 year % change)1.0 1.6 1.1 0.1 0.9 1.9 0.7 0.9 2.1 2.0 Export market share in volume (1 year % change)9.6 -6.1 -5.2 3.8 -2.8 0.4 12.6 2.3 -0.8 -0.8 Labour productivity (1 year % change)-2.5 1.8 -1.6 0.0 0.8 3.2 6.5 1.3 -1.3 1.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana6.0e5.1e4.1e3.1e3.1pUnit labour cost performance relative to EA (10 year % change)6.8 9.9 9.9 13.6 12.8 8.0 9.2 6.4 5.5 4.5 House price index (2015=100) - nominal (3 year % change)28.6 7.4 -4.6 2.7 1.2 5.2 8.1 14.4 17.5 17.5pResidential construction (% of GDP)4.3 3.4 3.4 3.0 2.6 2.4 2.8 3.5 4.7 5.2 Household debt, consolidated (incl. NPISH, % of GDP)60.3 59.6 60.3 61.0 59.8 56.8 52.8 52.1 50.4 49.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.5e5.0e5.1e5.0e6.6e11.9e14.1e15.8e13.5e12.1pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.18 (continued): Auxiliary indicators for Malta   

155 

20092010201120122013201420152016201720181 year % change0.0 1.7 2.9 2.8 3.8 5.4 4.1 4.3 8.1 5.4 %59.4 60.4 61.8 63.9 66.3 67.8 68.8 70.6 72.2 74.7 %2.9 3.1 3.0 3.0 2.8 2.7 2.4 1.9 1.6 1.1 %14.5 13.2 13.3 13.8 12.7 11.7 11.6 10.7 10.6 9.1 %9.9 9.5 10.2 10.8 9.9 10.3 10.5 8.8 8.6b7.3 3 year change in pp-0.4b-2.0 1.9 0.9 0.4 0.1 -0.3 -1.1 -1.7b-3.2 %20.3 21.2 22.1 23.1 24.6 23.9 23.0 20.3 19.3 19.0 3 year change in pp0.8 1.5 2.0 2.8 3.4 1.8 -0.1 -4.3 -4.6 -4.0 %14.9 15.5 15.6 15.1 15.8 15.8 16.6 16.5 16.7 16.8 3 year change in pp0.7 0.4 0.3 0.2 0.3 0.2 1.5 0.7 0.9 0.2 %5.0 6.5 6.6 9.2 10.2 10.3 8.5 4.4 3.3 3.0 3 year change in pp1.1 2.1 2.3 4.2 3.7 3.7 -0.7 -5.8 -7.0 -5.5 %9.2 9.2 8.9 9.0 9.1 9.9 9.2 7.3 7.1 5.5 3 year change in pp-0.5 -0.4 0.3 -0.2 -0.1 1.0 0.2 -1.8 -2.8 -3.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Young people neither in employment nor in education and training, 2017: changes in the weighting procedure.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatMaltaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.19: Auxiliary indicators for Netherlands  

156 

Netherlands2009201020112012201320142015201620172018Real GDP (1 year % change) -3.7 1.3 1.6 -1.0 -0.1 1.4 2.0 2.2 2.9 2.6pGross fixed capital formation (% of GDP)21.3 19.7 20.1 18.8 18.4 17.6 22.1 20.0 20.1 20.3pGross domestic expenditure on R&D (% of GDP)1.7 1.7 1.9b1.9b1.9 2.0 2.0 2.0 2.0 naCurrent plus capital account (net lending-borrowing) (% of GDP)5.5 6.5 8.7 8.9 9.9 8.4 5.8 7.9 10.8 10.8 Net international investment position excluding non-defaultable instruments (% of GDP) -74.9 -78.9 -74.1 -69.6 -66.9 -45.8 -54.2 -33.0 -17.5 -14.0 Foreign direct investment in the reporting economy, flows (% of GDP)10.9 14.5 37.1 29.4 37.5 13.0 41.9 30.8 12.3 -27.3 Foreign direct investment in the reporting economy, stocks (% of GDP)417.1 431.3 472.5 503.2 534.5 558.1 614.0 640.7 628.7 581.8 Net trade balance of energy products (% of GDP)-0.7 -1.5 -1.9 -2.6 -1.4 -1.6 -1.1 -0.6 -0.7 -1.5pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.1 -1.0 0.0 -0.4 1.3 1.3 0.8 -0.6 -0.7 -0.8 Export performance against advanced economies (5 year % change)2.6 -0.6 -1.2 -4.0 -5.0 -5.4 -5.7 -5.0 -1.3 -0.4 Terms of trade (5 year % change)0.9 -1.2 -2.9 -2.6 -2.0 -3.0 -0.1 2.0 1.8 1.1pExport market share in volume (1 year % change)1.4 -3.3 -1.6 0.2 -1.2 0.8 4.5 -0.5 0.9 0.3pLabour productivity (1 year % change)-2.8 2.0 0.7 -0.8 1.1 1.5 1.0 0.6 0.7p0.1pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana3.4e2.7e2.4e2.1e1.9pUnit labour cost performance relative to EA (10 year % change)6.3 3.7 3.8 1.6 0.4 0.3 -0.1 -0.2 -1.9 -1.8 House price index (2015=100) - nominal (3 year % change)2.4 -4.0 -8.0 -10.1 -14.0 -11.6 -1.8 9.7 17.0 23.6 Residential construction (% of GDP)5.6 4.7 4.2 3.5 3.0 3.1 3.5 4.1 4.5 4.8pHousehold debt, consolidated (incl. NPISH, % of GDP)117.2 118.0 117.5 117.4 114.6 112.8 110.6 108.9 106.0 102.4pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)23.2e23.2e24.2e22.3e20.8e18.5e18.0e17.7e16.7e16.1pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.19 (continued): Auxiliary indicators for Netherlands   

157 

20092010201120122013201420152016201720181 year % change-0.9 -0.7 0.9 -0.2 -1.2 -0.1 1.0 1.5 2.2p2.5p%78.1 77.9 78.1 79.0 79.4 79.0 79.6 79.7 79.7 80.3 %1.1 1.3 1.6 1.9 2.5 2.9 3.0 2.5 1.9 1.4 %10.2 11.1 10.0 11.7 13.2 12.7 11.3 10.8 8.9 7.2 %5.0 4.8 4.3 4.9 5.6b5.5 4.7 4.6 4.0 4.2 3 year change in pp0.1b0.5 0.4 -0.1 0.8b1.2 -0.2 -1.0b-1.5 -0.5 %15.1 15.1 15.7 15.0 15.9 16.5 16.4 16.7b17.0 16.7 3 year change in pp-0.9 -0.6 0.8 -0.1 0.8 0.8 1.4 0.8b0.5 0.3 %11.1 10.3 11.0 10.1 10.4 11.6 11.6 12.7b13.2 13.3 3 year change in pp1.4 0.1 0.5 -1.0 0.1 0.6 1.5 2.3b1.6 1.7 %1.4 2.2 2.5 2.3 2.5 3.2 2.6 2.6b2.6 2.4 3 year change in pp-0.9 0.5 1.0 0.9 0.3 0.7 0.3 0.1b-0.6 -0.2 %8.5 8.4 8.9 8.9 9.3 10.2 10.2 9.7b9.5 8.6 3 year change in pp-2.4 -1.3 0.7 0.4 0.9 1.3 1.3 0.4b-0.7 -1.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1)IncomeandLivingConditionsindicators:Cautiontobetakenintimecomparisons.AnewweightingschemehasbeenappliedfromEU-SILC2016onwards(AROP/AROPE).In2016imputedrentandtheinterestpaidonmortgageareincludedintargetvariableHY140G.Fromthen,variable HY140G refers to the actual tax paid, which resulted in a higher disposable income for homeowners. The reported breaks reduce the information value of 3 year change in pp in the year of reporting and the two subsequent years.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatNetherlandsEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.20: Auxiliary indicators for Austria 

158 

Austria2009201020112012201320142015201620172018Real GDP (1 year % change) -3.8 1.8 2.9 0.7 0.0 0.7 1.0 2.1 2.5 2.4 Gross fixed capital formation (% of GDP)22.4 21.6 22.5 22.6 23.0 22.7 22.7 23.1 23.5 23.9 Gross domestic expenditure on R&D (% of GDP)2.6 2.7e2.7 2.9e3.0 3.1e3.1 3.1 3.1 3.2pCurrent plus capital account (net lending-borrowing) (% of GDP)2.6 2.9 1.5 1.3 1.8 2.4 1.2 2.6 1.5 2.3 Net international investment position excluding non-defaultable instruments (% of GDP) -4.8 -10.3 -14.2 -16.0 -11.7 -11.3 -11.3 -9.4 -4.4 -5.0 Foreign direct investment in the reporting economy, flows (% of GDP)3.4 -5.4 5.4 1.3 0.1 0.4 -2.1 -7.5 3.2 0.9 Foreign direct investment in the reporting economy, stocks (% of GDP)81.1 74.8 72.8 74.7 75.2 77.8 75.4 65.0 66.6 67.4 Net trade balance of energy products (% of GDP)-2.4 -2.9 -3.7 -3.9 -3.5 -3.0 -2.3 -1.9 -2.1 -2.5 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.3 0.2 1.2 1.3 1.6 1.6 2.0 2.1 1.8 1.7 Export performance against advanced economies (5 year % change)1.9 -5.5 -5.7 -13.8 -12.6 -10.1 -8.1 -4.9 -0.1 1.8 Terms of trade (5 year % change)-1.7 -2.5 -3.1 -3.2 -1.9 -2.7 0.4 3.1 2.3 1.5 Export market share in volume (1 year % change)-4.4 0.1 -0.9 -1.7 -3.1 -0.8 0.1 0.9 -0.6 2.5 Labour productivity (1 year % change)-3.3 1.1 1.3 -0.4 -0.3 -0.3 0.4 0.8 0.8 0.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana7.5e6.5e5.1e3.5e2.6pUnit labour cost performance relative to EA (10 year % change)-3.7 -1.5 -0.8 1.7 3.7 5.8 6.6 6.3 5.6 4.7 House price index (2015=100) - nominal (3 year % change)9.9e11.5be17.3e21.1e19.9 16.8 14.2 17.8 19.9 19.6 Residential construction (% of GDP)4.3 4.3 4.4 4.3 4.3 4.3 4.3 4.3 4.5 4.5 Household debt, consolidated (incl. NPISH, % of GDP)53.5 54.6 53.2 52.0 51.2 51.0 50.8 51.1 50.2 49.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)15.4e13.8e14.7e13.5e13.4e14.2e13.5e12.5e11.6e11.4pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.20 (continued): Auxiliary indicators for Austria 

159 

20092010201120122013201420152016201720181 year % change-0.5 0.8 1.6 1.0 0.3 1.0 0.6 1.3 1.7 1.7 %74.3 74.4 74.6 75.1 75.5 75.4 75.5 76.2 76.4 76.8 %1.2 1.2 1.2 1.2 1.3 1.5 1.7 1.9 1.8 1.4 %10.7 9.5 8.9 9.4 9.7 10.3 10.6 11.2 9.8 9.4 %8.2 7.4 7.3 6.8 7.3 7.7 7.5 7.7 6.5 6.8 3 year change in pp0.4b0.0b-0.1 -1.4 -0.1 0.4 0.7 0.4 -1.2 -0.7 %19.1 18.9 19.2 18.5 18.8 19.2 18.3 18.0 18.1 17.5 3 year change in pp1.3 2.2 -1.4b-0.6 -0.1 0.0 -0.2 -0.8 -1.1 -0.8 %14.5 14.7 14.5 14.4 14.4 14.1 13.9 14.1 14.4 14.3 3 year change in pp1.9 2.7 -0.7 -0.1 -0.3 -0.4 -0.5 -0.3 0.3 0.4 %4.6 4.3 4.0 4.0 4.2 4.0 3.6 3.0 3.7 2.8 3 year change in pp1.0 1.0 -1.9 -0.6 -0.1 0.0 -0.4 -1.2 -0.3 -0.8 %7.1 7.8 8.6 7.7 7.8 9.1 8.2 8.1 8.3 7.3 3 year change in pp-1.0 -0.4 1.2b0.6 0.0 0.5 0.5 0.3 -0.8 -0.9 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatAustriaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.21: Auxiliary indicators for Poland 

160 

Poland2009201020112012201320142015201620172018Real GDP (1 year % change) 2.8 3.6 5.0 1.6 1.4 3.3 3.8 3.1 4.9 5.1 Gross fixed capital formation (% of GDP)21.4 20.3 20.7 19.8 18.8 19.7 20.1 18.0 17.5 18.2 Gross domestic expenditure on R&D (% of GDP)0.7 0.7 0.8 0.9 0.9 0.9 1.0 1.0 1.0 1.2pCurrent plus capital account (net lending-borrowing) (% of GDP)-2.3 -3.6 -3.2 -1.5 1.0 0.4 1.8 0.5 1.3 1.1 Net international investment position excluding non-defaultable instruments (% of GDP) -22.4 -24.5 -25.6 -26.4 -27.1 -26.2 -26.0 -22.9 -20.7 -16.9 Foreign direct investment in the reporting economy, flows (% of GDP)3.2 3.7 3.4 1.5 0.2 3.6 3.2 3.9 2.2 2.8 Foreign direct investment in the reporting economy, stocks (% of GDP)40.4 48.4 47.3 47.7 50.1 51.5 48.1 50.6 49.6 47.8 Net trade balance of energy products (% of GDP)-2.2 -2.6 -3.3 -3.4 -2.7 -2.6 -1.6 -1.4 -2.0 -2.8 Real effective exchange rate - Euro Area trading partners (3 year % change)-6.2 -0.1 -9.5 7.3 -3.3 -1.5 -2.1 -5.7 -3.2 -3.0 Export performance against advanced economies (5 year % change)45.8 34.9 24.1 11.7 6.9 11.8 10.4 15.3 24.4 23.2 Terms of trade (5 year % change)4.5 1.7 0.3 -2.6 -0.1 -1.4 2.5 4.6 6.1 3.8 Export market share in volume (1 year % change)4.1 0.1 1.1 1.5 2.4 3.0 4.8 6.6 3.9 3.6 Labour productivity (1 year % change)2.4 6.4b4.4 1.5 1.5 1.6 2.3 2.2 3.6 4.8pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana7.2e6.6e6.4e6.6e6.2pUnit labour cost performance relative to EA (10 year % change)-3.7 -3.2 -7.5 -3.4 0.5 2.2 1.3 4.2 3.4 -0.1 House price index (2015=100) - nominal (3 year % change)43.4e-7.2 -6.4e-7.0e-7.6 -6.8 -2.0 4.4 7.4 12.7 Residential construction (% of GDP)3.4 3.2 3.0 3.2 3.0 3.0 2.5 2.4 2.2 2.0 Household debt, consolidated (incl. NPISH, % of GDP)31.6 34.2 35.1 34.1 35.1 35.6 36.0 36.6 34.9 35.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.3e10.0e9.9e9.1e9.0e9.3e9.2e9.4e8.8e9.3pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = NSI estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.21 (continued): Auxiliary indicators for Poland  

161 

20092010201120122013201420152016201720181 year % change0.4 -2.7b0.6 0.1 -0.1 1.7 1.5 0.8 1.3 0.3p%64.7 65.3b65.7 66.5 67.0 67.9 68.1 68.8 69.6 70.1 %2.5 3.0b3.6 4.1 4.4 3.8 3.0 2.2 1.5 1.0 %20.6d23.7 25.8 26.5 27.3 23.9 20.8 17.7 14.8 11.7 %10.1 10.8b11.5 11.8 12.2b12.0 11.0 10.5 9.5 8.7b3 year change in pp-2.5 0.2b2.5b1.7 1.4b0.5 -0.8 -1.7b-2.5 -2.3b%27.8 27.8 27.2 26.7 25.8 24.7 23.4 21.9 19.5 18.9 3 year change in pp-11.7 -6.6 -3.3b-1.1 -2.0 -2.5 -3.3 -3.9 -5.2 -4.5 %17.1 17.6 17.7 17.1 17.3 17.0 17.6 17.3 15.0 14.8 3 year change in pp-2.0 0.3 0.8 0.0 -0.3 -0.7 0.5 0.0 -2.0 -2.8 %15.0 14.2 13.0 13.5 11.9 10.4 8.1 6.7 5.9 4.7 3 year change in pp-12.6 -8.1 -4.7b-1.5 -2.3 -2.6 -5.4 -5.2 -4.5 -3.4 %6.9 7.3 6.9 6.9 7.2 7.3 6.9 6.4 5.7 5.6 3 year change in pp-5.5 -2.8 -1.1 0.0 -0.1 0.4 0.0 -0.8 -1.6 -1.3 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. d:Definition differs. p:Provisional. 1) Young people neither in employment nor in education and training, 2018: changes in the weighting procedure.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatPolandEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
Table 5.22: Auxiliary indicators for Portugal 

162 

Portugal2009201020112012201320142015201620172018Real GDP (1 year % change) -3.1 1.7 -1.7 -4.1 -0.9 0.8 1.8 2.0 3.5 2.4pGross fixed capital formation (% of GDP)21.2 20.6 18.4 15.8 14.8 15.0 15.5 15.5 16.8 17.6pGross domestic expenditure on R&D (% of GDP)1.6 1.5 1.5 1.4 1.3 1.3 1.2 1.3 1.3 1.4pCurrent plus capital account (net lending-borrowing) (% of GDP)-9.3 -8.8 -4.5 0.3 3.2 1.4 1.3 2.0 2.1 1.4 Net international investment position excluding non-defaultable instruments (% of GDP) -71.2 -67.7 -71.6 -82.1 -78.1 -77.7 -72.3 -64.8 -59.5 -57.1 Foreign direct investment in the reporting economy, flows (% of GDP)2.3 3.5 4.0 10.1 4.7 5.7 1.3 3.5 4.5 2.7 Foreign direct investment in the reporting economy, stocks (% of GDP)56.4 59.2 58.1 70.8 77.4 81.5 81.0 80.5 82.5 79.0 Net trade balance of energy products (% of GDP)-2.8 -3.4 -4.2 -4.7 -3.7 -3.6 -2.3 -1.6 -2.2 -2.5pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.8 -2.1 -0.5 0.9 0.1 -1.2 -1.1 0.3 0.8 -0.3 Export performance against advanced economies (5 year % change)-1.0 -0.1 -2.9 -8.9 -1.5 -1.1 2.0 3.0 11.1 7.2 Terms of trade (5 year % change)2.4 2.1 -0.4 -0.2 3.9 0.1 4.7 8.4 6.9 4.8pExport market share in volume (1 year % change)0.0 -3.8 0.1 0.0 3.5 0.6 3.4 2.2 2.8 0.4pLabour productivity (1 year % change)-0.4 3.2 0.3 0.0 2.0 -0.6 0.4 0.4 0.2 0.1pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana16.6e17.5e17.2e13.3e9.4pUnit labour cost performance relative to EA (10 year % change)4.0 0.6 -3.6 -8.5 -8.9 -9.8 -11.6 -10.2 -8.2 -6.6 House price index (2015=100) - nominal (3 year % change)4.2e3.6e-5.1 -11.0 -13.3 -4.9 5.4 15.1 20.6 29.0 Residential construction (% of GDP)4.1 3.6 3.3 3.0 2.5 2.5 2.4 2.6 2.8 3.0pHousehold debt, consolidated (incl. NPISH, % of GDP)92.1 90.7 90.5 90.4 86.1 81.7 76.7 72.1 69.1 66.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)16.1e16.2e19.6e15.5e14.8e13.7e12.4e12.9e10.6e11.0pFlags:e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.22 (continued): Auxiliary indicators for Portugal 

163 

20092010201120122013201420152016201720181 year % change-2.7 -1.4 -1.9 -4.1 -2.9 1.4 1.4 1.6 3.3 2.3p%73.4 73.7 73.6b73.4 73.0 73.2 73.4 73.7 74.7 75.1 %4.2 5.7 6.2b7.7 9.3 8.4 7.2 6.2 4.5 3.1 %25.3 28.2 30.2 38.0 38.1 34.7 32.0 28.2 23.8 20.3 %11.2 11.4 12.6b13.9 14.1 12.3 11.3 10.6 9.3 8.4 3 year change in pp0.6b0.2 2.4b2.7 2.7 -0.3b-2.6 -3.5 -3.0 -2.9 %24.9 25.3 24.4 25.3 27.5 27.5 26.6 25.1 23.3 21.6 3 year change in pp-0.1 0.3 -1.6 0.4 2.2 3.1 1.3 -2.4 -4.2 -5.0 %17.9 17.9 18.0 17.9 18.7 19.5 19.5 19.0 18.3 17.3 3 year change in pp-0.6 -0.2 -0.5 0.0 0.8 1.5 1.6 0.3 -1.2 -2.2 %9.1 9.0 8.3 8.6 10.9 10.6 9.6 8.4 6.9 6.0 3 year change in pp0.0 -0.6 -1.4 -0.5 1.9 2.3 1.0 -2.5 -3.7 -3.6 %7.0 8.6 8.3 10.1 12.2 12.2 10.9 9.1 8.0 7.2 3 year change in pp0.4 1.4 2.0 3.1 3.6 3.9 0.8 -3.1 -4.2 -3.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatPortugalEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.23: Auxiliary indicators for Romania 

164 

Romania2009201020112012201320142015201620172018Real GDP (1 year % change) -5.5 -3.9 2.0 2.1 3.5 3.4 3.9 4.8 7.1 4.0pGross fixed capital formation (% of GDP)26.0 26.1 27.2 27.4 24.8 24.3 24.8 22.9 22.4 21.2pGross domestic expenditure on R&D (% of GDP)0.4 0.5 0.5b0.5 0.4 0.4 0.5 0.5 0.5 naCurrent plus capital account (net lending-borrowing) (% of GDP)-4.2 -5.0 -4.4 -3.4 1.0 2.0 1.2 0.4 -2.0 -3.4 Net international investment position excluding non-defaultable instruments (% of GDP) -21.1 -23.1 -25.1 -25.0 -20.4 -16.0 -13.0 -6.7 -5.8 -3.9 Foreign direct investment in the reporting economy, flows (% of GDP)2.7 2.0 1.3 1.8 2.0 1.9 2.4 3.3 2.8 3.1 Foreign direct investment in the reporting economy, stocks (% of GDP)39.1 41.8 41.8 43.3 43.1 41.9 42.6 44.5 44.5 44.0 Net trade balance of energy products (% of GDP)-1.5 -2.2 -2.7 -3.0 -1.9 -1.4 -0.9 -0.9 -1.3 -1.6pReal effective exchange rate - Euro Area trading partners (3 year % change)-6.3 -9.2 -1.6 3.2 0.7 -1.3 2.2 -2.8 -5.1 -4.1 Export performance against advanced economies (5 year % change)83.7 65.9 61.6 23.7 21.9 28.2 21.9 20.6 32.7 21.2 Terms of trade (5 year % change)29.5 25.5 18.2 5.3 3.4 4.5 6.0 3.9 5.3 5.3pExport market share in volume (1 year % change)4.3 2.5 5.3 -2.0 16.5 4.3 1.7 13.8 2.0 2.0pLabour productivity (1 year % change)-1.9 -0.7 4.4 0.6 4.4 2.6 5.2 6.0 4.6 3.7pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana20.7e13.4e9.7e6.6e5.3pUnit labour cost performance relative to EA (10 year % change)289.1 169.8 74.5 79.8 46.2 50.5 21.1 25.1 33.3 25.9 House price index (2015=100) - nominal (3 year % change)nana-38.2e-23.0 -17.0 -7.3 0.5 6.7 15.6 18.6 Residential construction (% of GDP)2.8 2.9 2.7 3.1 2.4 2.4 2.4 2.6 2.7 3.5pHousehold debt, consolidated (incl. NPISH, % of GDP)21.4 22.8 21.7 20.7 19.2 18.0 17.4 16.7 16.1 16.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)11.0e10.1e10.0e9.7e9.7e10.5e9.8e9.8e9.6e9.3pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = NSI estimates. 2) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.23 (continued): Auxiliary indicators for Romania 

165 

20092010201120122013201420152016201720181 year % change-3.7 -3.2 -2.3 1.4 -0.9 0.8 -1.3 -1.1 2.4 0.2p%63.1 64.9b64.1 64.8 64.9 65.7 66.1 65.6 67.3 67.8 %2.2 2.4b2.9 3.0 3.2 2.8 3.0 3.0 2.0 1.8 %20.0 22.1 23.9 22.6 23.7 24.0 21.7 20.6 18.3 16.2 %13.9 16.6b17.5 16.8 17.0 17.0 18.1 17.4 15.2 14.5 3 year change in pp-0.9b3.3b5.9 2.9 0.4b-0.5 1.3 0.4 -1.8 -3.6 %43.0 41.5 40.9 43.2 41.9 40.3 37.4 38.8 35.7 32.5 3 year change in ppna-5.5 -3.3 0.2 0.4 -0.6 -5.8 -3.1 -4.6 -4.9 %22.1 21.6 22.3 22.9 23.0 25.1 25.4 25.3 23.6 23.5 3 year change in pp4.1 -3.0b-1.3 0.8 1.4 2.8 2.5 2.3 -1.5 -1.9 %32.1 30.5 29.5 31.1 29.8 25.9 22.7 23.8 19.7 16.8 3 year change in ppna-7.5 -3.2 -1.0 -0.7 -3.6 -8.4 -6.0 -6.2 -5.9 %8.1 7.7 7.3 7.9 7.6 7.2 7.9 8.2 6.9 7.4 3 year change in ppna-2.2 -1.2 -0.2 -0.1 -0.1 0.0 0.6 -0.3 -0.5 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatRomaniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.24: Auxiliary indicators for Slovenia 

166 

Slovenia2009201020112012201320142015201620172018Real GDP (1 year % change) -7.5 1.3 0.9 -2.6 -1.0 2.8 2.2 3.1 4.8 4.1 Gross fixed capital formation (% of GDP)24.1 21.1 19.9 19.0 19.6 19.1 18.7 17.4 18.3 19.2 Gross domestic expenditure on R&D (% of GDP)1.8 2.1 2.4b2.6 2.6 2.4 2.2 2.0 1.9 2.0pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.0 -0.6 -1.0 1.4 3.7 5.3 4.9 4.1 5.4 5.2 Net international investment position excluding non-defaultable instruments (% of GDP) -39.5 -42.0 -35.4 -37.6 -32.8 -29.1 -19.7 -15.5 -10.6 -1.9 Foreign direct investment in the reporting economy, flows (% of GDP)-0.7 0.6 1.7 0.1 0.2 2.0 4.0 3.2 2.5 2.8 Foreign direct investment in the reporting economy, stocks (% of GDP)26.0 26.9 28.5 29.6 28.9 31.5 34.4 37.1 38.0 39.1 Net trade balance of energy products (% of GDP)-3.9 -5.0 -6.2 -6.7 -5.5 -4.1 -3.1 -2.1 -2.6 -2.9 Real effective exchange rate - Euro Area trading partners (3 year % change)3.9 3.1 0.4 0.2 0.0 0.4 -0.9 -1.8 -1.6 -0.4 Export performance against advanced economies (5 year % change)19.2 6.7 1.7 -12.8 -12.3 -6.8 -3.5 1.5 14.8 18.0 Terms of trade (5 year % change)0.3 -1.6 -2.4 -4.3 -2.3 -4.6 0.6 2.9 3.5 2.6 Export market share in volume (1 year % change)-6.6 -2.8 0.1 -2.6 -0.6 2.3 1.8 4.3 5.2 3.2 Labour productivity (1 year % change)-6.0 3.5 2.6 -1.7 0.1 2.3 0.9 1.3 1.8 0.9 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana22.8e17.9e12.3e9.2e6.0pUnit labour cost performance relative to EA (10 year % change)36.0 29.5 18.8 12.7 9.3 4.0 3.2 3.4 2.2 -0.3 House price index (2015=100) - nominal (3 year % change)19.8e-3.0 -6.9 -4.2 -9.4 -17.6 -10.8 -2.8 12.5 22.5 Residential construction (% of GDP)3.8 3.1 2.8 2.5 2.4 2.2 2.1 2.1 2.1 2.1 Household debt, consolidated (incl. NPISH, % of GDP)28.4 30.3 29.9 30.7 29.6 28.3 27.6 27.3 27.2 27.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.9e13.2e13.3e12.9e11.3e9.3e8.6e8.0e8.0e8.2pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = NSI estimates. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.24 (continued): Auxiliary indicators for Slovenia 

167 

20092010201120122013201420152016201720181 year % change-1.6 -2.1 -1.7 -0.9 -1.1 0.4 1.3 1.8 3.0 3.2 %71.8 71.5 70.3 70.4 70.5 70.9 71.8 71.6 74.2 75.0 %1.8 3.2 3.6 4.3 5.2 5.3 4.7 4.3 3.1 2.2 %13.6 14.7 15.7 20.6 21.6 20.2 16.3 15.2 11.2 8.8 %7.5 7.1 7.1 9.3 9.2 9.4 9.5 8.0 6.5 6.6 3 year change in pp-1.0b0.4 0.6 1.8 2.1 2.3 0.2 -1.2 -2.9 -2.9 %17.1 18.3 19.3 19.6 20.4 20.4 19.2 18.4 17.1 16.2 3 year change in pp0.0 1.2 0.8 2.5 2.1 1.1 -0.4 -2.0 -3.3 -3.0 %11.3 12.7 13.6 13.5 14.5 14.5 14.3 13.9 13.3 13.3 3 year change in pp-0.3 1.2 1.3 2.2 1.8 0.9 0.8 -0.6 -1.2 -1.0 %6.1 5.9 6.1 6.6 6.7 6.6 5.8 5.4 4.6 3.7 3 year change in pp1.0 0.8 -0.6 0.5 0.8 0.5 -0.8 -1.3 -2.0 -2.1 %5.6 7.0 7.6 7.5 8.0 8.7 7.4 7.4 6.2 5.4 3 year change in pp-1.3 -0.3 0.9 1.9 1.0 1.1 -0.1 -0.6 -2.5 -2.0 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSloveniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.25: Auxiliary indicators for Slovakia 

168 

Slovakia2009201020112012201320142015201620172018Real GDP (1 year % change) -5.5 5.7 2.9 1.9 0.7 2.8 4.8 2.1 3.0 4.0 Gross fixed capital formation (% of GDP)20.8 21.1 23.3 20.3 20.4 20.4 23.7 21.0 21.3 21.2 Gross domestic expenditure on R&D (% of GDP)0.5 0.6 0.7 0.8 0.8 0.9 1.2 0.8 0.9 0.8 Current plus capital account (net lending-borrowing) (% of GDP)-2.7 -3.2 -3.7 2.9 3.3 2.1 1.2 -1.0 -1.8 -1.3 Net international investment position excluding non-defaultable instruments (% of GDP) -11.9 -10.9 -12.4 -8.6 -10.5 -13.0 -14.0 -14.8 -15.2 -16.5 Foreign direct investment in the reporting economy, flows (% of GDP)1.9 2.3 5.6 1.8 1.0 -0.4 1.7 5.3 4.4 2.4 Foreign direct investment in the reporting economy, stocks (% of GDP)64.3 62.1 65.3 64.0 64.6 62.0 62.8 70.9 71.4 69.2 Net trade balance of energy products (% of GDP)-4.4 -5.6 -6.4 -5.8 -5.9 -4.2 -3.5 -2.7 -3.5 -4.1 Real effective exchange rate - Euro Area trading partners (3 year % change)24.8 12.7 4.9 1.9 2.5 0.5 -1.5 -2.2 -1.7 -0.4 Export performance against advanced economies (5 year % change)18.8 12.4 4.8 -1.2 2.8 8.8 5.2 5.1 2.3 1.1 Terms of trade (5 year % change)-5.2 -5.9 -5.9 -6.0 -4.8 -3.7 -3.2 -2.3 -1.6 -1.7 Export market share in volume (1 year % change)-6.4 4.3 3.8 6.0 2.3 0.0 3.7 2.8 -2.1 2.0 Labour productivity (1 year % change)-3.6 7.3 1.1 1.8 1.5 1.3 2.8 -0.3 0.8 2.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana5.2e4.4e4.6e3.7e3.2pUnit labour cost performance relative to EA (10 year % change)22.6 12.5 11.4 7.5 4.8 2.3 -0.1 -0.9 3.2 3.9 House price index (2015=100) - nominal (3 year % change)32.7 -1.2 -17.5 -8.0 -3.3 -0.4 7.8 14.0 19.0 21.3 Residential construction (% of GDP)3.4 2.8 2.8 2.9 3.2 2.7 2.5 3.1 3.2 3.4 Household debt, consolidated (incl. NPISH, % of GDP)23.7 24.8 26.4 28.4b29.7 32.5 34.7 38.3 41.0 42.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)10.5e10.4e9.4e8.5e8.2e8.4e9.0e9.2e9.3e9.5pFlags:b:Break in series. e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.25 (continued): Auxiliary indicators for Slovakia 

169 

20092010201120122013201420152016201720181 year % change-2.0 -1.5 1.8 0.1 -0.8 1.4 2.0 2.4 2.2 2.0 %68.4 68.7 68.7b69.4 69.9 70.3 70.9 71.9 72.1 72.4 %6.5 9.2 9.2b9.4 10.0 9.3 7.6 5.8 5.1 4.0 %27.6 33.9 33.7d34.0 33.7 29.7 26.5 22.2 18.9 14.9 %12.5 14.1 13.8b13.8 13.7 12.8 13.7 12.3 12.1 10.2 3 year change in pp-1.9b1.6 2.7b1.3 -0.4 -1.0b-0.1 -1.4 -0.7 -3.5 %19.6 20.6 20.6 20.5 19.8 18.4 18.4 18.1 16.3 na3 year change in pp-7.1 -0.8 0.0 0.9 -0.8 -2.2 -2.1 -1.7 -2.1 na%11.0 12.0 13.0 13.2 12.8 12.6 12.3 12.7 12.4 na3 year change in pp-0.6 1.4 2.1 2.2 0.8 -0.4 -0.9 -0.1 -0.2 na%11.1 11.4 10.6 10.5 10.2 9.9 9.0 8.2 7.0 na3 year change in pp-7.1 -2.3 -1.2 -0.6 -1.2 -0.7 -1.5 -2.0 -2.9 na%5.6 7.9 7.7 7.2 7.6 7.1 7.1 6.5 5.4 na3 year change in pp-0.6 1.5 2.5 1.6 -0.3 -0.6 -0.1 -1.1 -1.7 naSlovakiaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. d:Definition differs. 1) Official transmission deadline for 2018 data on the Income and Living Conditions indicators is 30 November 2019 while data were extracted on 25 October 2019.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 5.26: Auxiliary indicators for Finland 

170 

Finland2009201020112012201320142015201620172018Real GDP (1 year % change) -8.1 3.2 2.5 -1.4 -0.9 -0.4 0.6 2.6 3.1 1.7 Gross fixed capital formation (% of GDP)23.0 22.3 22.6 23.1 22.0 21.5 21.2 22.7 23.2 23.7 Gross domestic expenditure on R&D (% of GDP)3.7 3.7 3.6 3.4 3.3 3.2 2.9 2.7 2.7 2.8 Current plus capital account (net lending-borrowing) (% of GDP)2.1 1.6 -1.3 -2.0 -1.7 -1.2 -0.9 -2.0 -0.7 -1.3 Net international investment position excluding non-defaultable instruments (% of GDP) 4.1 8.0 2.9 -2.2 -4.6 0.1 15.2 10.1 4.7 3.9 Foreign direct investment in the reporting economy, flows (% of GDP)-3.3 4.8 -2.2 1.9 -1.9 6.4 7.4 2.0 6.7 -1.9 Foreign direct investment in the reporting economy, stocks (% of GDP)50.5 54.4 50.4 51.7 46.6 52.0 57.3 54.5 56.9 48.9 Net trade balance of energy products (% of GDP)-2.4 -2.8 -3.7 -2.6 -2.6 -2.4 -1.8 -1.4 -1.6 -2.0 Real effective exchange rate - Euro Area trading partners (3 year % change)0.8 1.9 2.2 1.6 1.9 2.0 0.9 0.3 -1.2 -1.4 Export performance against advanced economies (5 year % change)-6.1 -13.1 -17.6 -25.5 -27.6 -22.4 -22.2 -17.5 -7.5 -5.0 Terms of trade (5 year % change)-7.1 -5.8 -4.3 -5.3 -2.7 -3.2 1.5 3.1 3.6 3.4 Export market share in volume (1 year % change)-10.1 -6.8 -4.8 -2.9 -3.1 -5.6 -2.3 1.5 3.2 -1.2 Labour productivity (1 year % change)-5.7 3.8 0.9 -2.2 -0.1 0.1 0.6 2.2 2.0 -0.9 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana1.6e1.5e1.4e1.2e1.5pUnit labour cost performance relative to EA (10 year % change)2.0 2.3 3.4 7.5 9.7 10.6 9.8 7.1 4.4 1.9 House price index (2015=100) - nominal (3 year % change)8.3 8.7 11.3 12.3 6.9 3.2 0.8 0.1 2.0 2.9 Residential construction (% of GDP)5.4 6.3 6.6 6.7 6.4 6.0 6.0 6.6 6.9 7.3 Household debt, consolidated (incl. NPISH, % of GDP)57.5 59.2 59.4 61.4 61.8 62.9 63.7 64.9 65.0 65.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)16.8e19.6e26.1e26.3e21.7e24.3e19.1e17.7e18.9e16.1pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.26 (continued): Auxiliary indicators for Finland 

171 

20092010201120122013201420152016201720181 year % change-2.5 -0.6 1.6 0.9 -0.8 -0.4 -0.1 0.5 1.0 2.6 %75.0 74.5 74.9 75.2 75.2 75.4 75.8 75.9 76.7 77.9 %1.4 2.0 1.7 1.6 1.7 1.9 2.3 2.3 2.1 1.6 %21.5 21.4 20.1 19.0 19.9 20.5 22.4 20.1 20.1 17.0 %9.9 9.0 8.4 8.6 9.3 10.2 10.6 9.9 9.4 8.5 3 year change in pp2.2 2.0 0.6 -1.3 0.3 1.8 2.0 0.6 -0.8 -2.1 %16.9 16.9 17.9 17.2 16.0 17.3 16.8 16.6 15.7 16.5 3 year change in pp-0.2 -0.5 0.5 0.3 -0.9 -0.6 -0.4 0.6 -1.6 -0.3 %13.8 13.1 13.7 13.2 11.8 12.8 12.4 11.6 11.5 12.0 3 year change in pp1.2 0.1 0.1 -0.6 -1.3 -0.9 -0.8 -0.2 -1.3 -0.4 %2.8 2.8 3.2 2.9 2.5 2.8 2.2 2.2 2.1 2.8 3 year change in pp-0.5 -0.8 -0.3 0.1 -0.3 -0.4 -0.7 -0.3 -0.7 0.6 %8.4 9.3 10.0 9.3 9.0 10.0 10.8 11.4 10.7 10.8 3 year change in pp-0.7 0.5 2.5 0.9 -0.3 0.0 1.5 2.4 0.7 0.0 People at risk of poverty or social exclusion - % of total populationYoung people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatFinlandEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.27: Auxiliary indicators for Sweden 

172 

Sweden2009201020112012201320142015201620172018Real GDP (1 year % change) -4.2 6.2 3.1 -0.6 1.1 2.7 4.4 2.4 2.4 2.3 Gross fixed capital formation (% of GDP)22.7 22.7 23.2 23.0 22.7 23.5 23.8 24.2 25.2 25.9 Gross domestic expenditure on R&D (% of GDP)3.4 3.2e3.2 3.2e3.3e3.1e3.2 3.3p3.4 3.3 Current plus capital account (net lending-borrowing) (% of GDP)5.8 5.7 5.3 5.4 4.9 4.4 3.9 3.7 2.7 1.7 Net international investment position excluding non-defaultable instruments (% of GDP) -24.6 -16.8 -18.6 -20.5 -24.4 -21.4 -13.8 -12.1 -7.1 -11.4 Foreign direct investment in the reporting economy, flows (% of GDP)2.1 0.2 1.1 0.8 0.2 -1.7 2.1 2.6 4.5 1.6 Foreign direct investment in the reporting economy, stocks (% of GDP)99.7 91.6 90.2 90.3 89.8 83.7 83.7 83.7 85.6 81.1 Net trade balance of energy products (% of GDP)-1.2 -1.6 -1.8 -1.7 -1.5 -1.3 -0.8 -0.8 -0.9 -1.3 Real effective exchange rate - Euro Area trading partners (3 year % change)-12.2 -1.1 7.4 19.3 5.9 -3.8 -7.9 -7.9 -4.0 -7.6 Export performance against advanced economies (5 year % change)-8.8 -5.6 -5.4 -11.3 -11.2 -3.5 -8.3 -9.5 -7.2 -8.2 Terms of trade (5 year % change)0.3 1.8 1.0 -0.4 0.2 -0.5 0.6 1.6 0.7 -1.1 Export market share in volume (1 year % change)-4.3 -2.2 -0.1 -2.0 -4.8 0.6 3.4 0.6 -1.3 -0.3 Labour productivity (1 year % change)-2.2 5.5 0.7 -1.4 0.1 1.3 2.9 0.6 0.0 0.4 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana1.3e1.3e1.2e1.3e1.0pUnit labour cost performance relative to EA (10 year % change)5.9 0.8 -0.1 2.6 4.5 6.3 6.4 8.1 6.7 6.2 House price index (2015=100) - nominal (3 year % change)17.3 12.5 14.1 12.1 9.2 16.5 30.2 34.0 30.6 14.4 Residential construction (% of GDP)3.3 3.7 4.0 3.5 3.6 4.2 4.7 5.3 5.7 5.4 Household debt, consolidated (incl. NPISH, % of GDP)75.8 76.0 76.7 79.5 81.5 82.4 82.7 85.7 87.4 87.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)22.8e22.4e24.1e22.1e21.3e20.6e18.8e17.6e16.5e18.8pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.27 (continued): Auxiliary indicators for Sweden 

173 

20092010201120122013201420152016201720181 year % change-2.1 0.6 2.3 0.7 1.0 1.4 1.5 1.9 2.5 1.9 %78.9 79.1 79.9 80.3 81.1 81.5 81.7 82.1 82.5 82.9 %1.1 1.6 1.5 1.5 1.4 1.4 1.5 1.3 1.2 1.2 %25.0 24.8 22.8 23.7 23.6 22.9 20.4 18.9 17.8 16.8 %9.6 7.7 7.5 7.8 7.5 7.2 6.7 6.5 6.2 6.1 3 year change in pp0.3b0.2b-0.3b-1.8 -0.2 -0.3 -1.1 -1.0 -1.0 -0.6 %17.8 17.7 18.5 17.7 18.3 18.2 18.6 18.3 17.7 18.0 3 year change in pp1.5 3.8 1.8b-0.1 0.6 -0.3 0.9 0.0 -0.5 -0.6 %14.4 14.8 15.4 15.2 16.0 15.6 16.3 16.2 15.8 16.4 3 year change in pp2.1 4.3 1.9b0.8 1.2 0.2 1.1 0.2 0.2 0.1 %2.0 1.9 1.7 1.8 1.9 1.0 1.1 0.8 1.1 1.6 3 year change in pp-0.1 -0.3 -0.1b-0.2 0.0 -0.7 -0.7 -1.1 0.1 0.5 %8.5 8.5 9.4 8.1 9.4 9.0 8.7 8.5 8.8 9.1 3 year change in pp1.7 2.5 2.4b-0.4 0.9 -0.4 0.6 -0.9 -0.2 0.4 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSwedenEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.28: Auxiliary indicators for United Kingdom 

174 

United Kingdom2009201020112012201320142015201620172018Real GDP (1 year % change) -4.2 1.9 1.5 1.5 2.1 2.6 2.4 1.9 1.9 1.4 Gross fixed capital formation (% of GDP)15.9 15.8 15.4 15.5 15.7 16.4 16.9 17.2 17.2 17.0 Gross domestic expenditure on R&D (% of GDP)1.7e1.7e1.7b1.6e1.6 1.7e1.7 1.7e1.7pnaCurrent plus capital account (net lending-borrowing) (% of GDP)-3.3 -3.2 -1.8 -3.5 -4.8 -4.8 -5.0 -5.3 -3.6 -4.5 Net international investment position excluding non-defaultable instruments (% of GDP) -36.2 -26.6 -22.5 -24.0 -12.4 -15.8 -13.0 1.0 -2.6 4.9 Foreign direct investment in the reporting economy, flows (% of GDP)0.4 2.6 1.0 1.7 2.0 2.0 1.6 12.2 4.6 1.3 Foreign direct investment in the reporting economy, stocks (% of GDP)56.9 59.2 59.9 73.1 71.0 71.1 70.6 77.5 83.0 83.9 Net trade balance of energy products (% of GDP)-0.4 -0.4 -1.0 -1.2 -1.1 -0.8 -0.6 -0.5 -0.6 -0.7 Real effective exchange rate - Euro Area trading partners (3 year % change)-21.7 -16.8 -2.7 14.5 4.2 10.3 13.8 4.8 -6.8 -16.2 Export performance against advanced economies (5 year % change)-13.0 -17.7 -20.2 -13.2 -5.3 -3.1 3.9 -1.0 -3.9 -5.7 Terms of trade (5 year % change)-2.9 -1.7 -3.0 -1.5 3.7 3.9 4.1 6.7 5.5 3.3 Export market share in volume (1 year % change)2.2 -7.2 0.5 -2.5 -2.5 -2.7 0.9 0.5 0.5 -4.3 Labour productivity (1 year % change)-2.7 1.7 1.0 0.4 1.0 0.2 0.6 0.4 0.9 0.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana3.3ena1.9e1.5e1.2pUnit labour cost performance relative to EA (10 year % change)9.3 10.2 7.8 8.8 9.6 6.3 7.2 5.6 5.0 7.8 House price index (2015=100) - nominal (3 year % change)-4.4 -8.0 -5.1 4.6 1.5 11.2 17.4 22.5 18.5 15.4 Residential construction (% of GDP)3.1 3.2 3.2 3.1 3.2 3.4 3.5 3.5 3.7 3.8 Household debt, consolidated (incl. NPISH, % of GDP)95.7 93.1 90.2 88.9 86.5 84.8 85.4 86.3 86.1 87.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)22.0e20.8e20.5e19.1e17.9e17.9e15.6e15.1e15.0e15.3pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2018 data on Gross domestic expenditure on R&D is 31 October 2019 while data were extracted on 25 October 2019.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.28 (continued): Auxiliary indicators for United Kingdom 

175 

20092010201120122013201420152016201720181 year % change-1.6 0.2 0.5 1.1 1.2 2.4 1.7 1.5 1.0 1.2 %75.7 75.4 75.5 76.1 76.4 76.7 76.9 77.3 77.6 77.9 %1.9 2.5 2.7 2.7 2.7 2.2 1.6 1.3 1.1 1.1 %19.1 19.9 21.3 21.2 20.7 17.0 14.6 13.0 12.1 11.3 %13.2 13.6 14.2 13.9 13.2 11.9 11.1 10.9 10.3 10.4 3 year change in pp4.6 1.7b2.1b0.7 -0.4 -2.3 -2.8 -2.3 -1.6 -0.7 %22.0 23.2 22.7 24.1b24.8 24.1 23.5 22.2 22.0bna3 year change in pp-1.7 0.6 -0.5 2.1b1.6 1.4 -0.6b-2.6 -2.1bna%17.3 17.1 16.2 16.0 15.9 16.8 16.6 15.9 17.0bna3 year change in pp-1.7 -1.5 -2.5 -1.3 -1.2 0.6 0.6 0.0 0.2bna%3.3u4.8 5.1 7.8 8.3 7.4 6.1 5.2 4.1b4.6p3 year change in pp-1.2u0.6 0.6 4.5u3.5 2.3 -1.7 -3.1 -3.3b-1.5p%12.7 13.2 11.5 13.0b13.2 12.3 11.9 11.3 10.1bna3 year change in pp0.7 2.8 1.1 0.3b0.0 0.8 -1.1b-1.9 -2.2bnaPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. u:Low reliability. 1)Officialtransmissiondeadlinefor2018dataontheIncomeandLivingConditionsindicatorsis30November2019whiledatawereextractedon25October2019.2)IncomeandLivingConditionsindicators:Cautiontobetakenintimecomparisons.In2017significantchangeinmicrodatacollectionpracticesacrossmostSILCvariables,partialresponsesfromtheSLCareincluded,withitem-by-itemimputationusedtoadjustindividualnon-responseaswellaschangeincalibrationvariablesused.Thereportedbreaksreducetheinformationvalueof3yearchange in pp in the year of reporting and the two subsequent years.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatUnited KingdomEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationSeverely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Chapter 6: Tables by year - MIP Scoreboard (base indicators) 
Table 6.1: MIP Scoreboard (base indicators) 2018 

176 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-1.0 41.3 2.4 -1.0 1.8 1.0 0.8 178.5 100.0 6.0 -2.9 68.6 2.9 15.8 BG5.4 -35.2 3.7 0.3 6.3p4.5 3.9 95.0 22.3 5.2 6.8 71.5 3.0 12.7 CZ0.3 -23.5 4.4 1.7 6.3 6.1p5.3 70.7 32.6 2.2 7.4 76.6 0.7 6.7 DK7.1 48.5 1.2 -0.4 2.3 3.5 2.4 199.4 34.2 5.1 -4.7 79.4 1.1 10.5 DE7.3 62.0 2.7 -1.4 2.7 5.1 6.6 102.4 61.9 3.4 2.0 78.6 1.4 6.2 EE2.0 -27.7 4.6 2.3 6.5 2.1 3.7 101.5 8.4 5.4 6.9 79.1 1.3 11.9 IE10.6 -165.0 1.4 5.6 -2.6 8.3 -7.8 223.2 63.6 5.8 5.1 72.9 2.1 13.8 EL-2.8 -143.3 1.9 8.0 1.1p1.3e-1.1p115.3p181.2 19.3 -5.0 68.2 13.6 39.9 ES1.9 -80.4 2.0 -1.1 1.2p5.3 0.4p133.5p97.6 15.3 -2.2 73.7 6.4 34.3 FR-0.6 -16.4 2.6 -0.1 1.0p1.5 7.9p148.9p98.4 9.1 1.6 71.9 3.8 20.7 HR1.9 -57.9 2.6 1.6 1.1d4.6 2.3p94.0p74.8 8.4 4.6 66.3 3.4 23.4 IT2.6 -4.7 1.9 -0.7 2.3 -1.6 1.6 107.0 134.8 10.6 -0.1 65.6 6.2 32.2 CY-4.4 -120.8 1.6 1.1 0.6p0.2 8.4p282.6p100.6 8.4 0.3 75.0 2.7 20.2 LV-0.7 -49.0 3.7 2.8 5.3 6.6 -0.2 70.3 36.4 7.4 -3.0 77.7 3.1 12.2 LT0.3 -31.0 4.1 5.4 5.3 4.6 4.3 56.4 34.1 6.2 8.2 77.3 2.0 11.1 LU4.8 59.8 1.6 0.7 3.9 4.9 -0.5 306.5 21.0 5.5 -2.0 71.1 1.4 14.1 HU-0.5 -52.0 -0.5 -0.5 3.4 10.9 4.3 69.3 70.2 3.7 -9.2 71.9 1.4 10.2 MT11.4 62.7 2.4 1.1 1.0 5.1p7.5 129.8 45.8 3.7 2.3 74.7 1.1 9.1 NL10.9 70.7 1.5 1.7 1.7p7.4 4.5p241.6p52.4 3.8 -3.3p80.3 1.4 7.2 AT2.3 3.7 2.1 3.0 2.2 2.5 3.9 121.0 74.0 4.9 1.7 76.8 1.4 9.4 PL-1.0 -55.8 1.0 4.0 3.3p4.9 3.4 76.1 48.9 3.9 3.0 70.1 1.0 11.7 PT0.4 -105.6 0.9 2.3 2.4p8.9 -0.1p154.3p122.2 7.0 0.7 75.1 3.1 20.3 RO-4.6 -44.1 2.3 4.7 12.2p1.8 1.9p47.8p35.0 4.2 3.3 67.8 1.8 16.2 SI5.7 -18.9 1.9 4.7 3.0 7.4 1.3 72.8 70.4 5.1 4.1 75.0 2.2 8.8 SK-2.6 -68.1 2.1 3.1 3.5 5.0 2.0 90.9 49.4 6.5 8.9e72.4 4.0 14.9 FI-1.4 -2.0 2.3 1.8 1.7 -0.2 1.6 142.1 59.0 7.4 19.9 77.9 1.6 17.0 SE1.7 10.3 -4.0 -3.4 3.1 -3.0 9.0 200.0 38.8 6.3 -2.9 82.9 1.2 16.8 UK-4.3 -10.5 2.3 -3.1 2.6 0.7 5.3 169.1 85.9 4.0 -0.6 77.9 1.1 11.3 Year2018External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:d:Definition differs. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB for EL. 3) Nominal unit labour cost HR, d: employment data use national concept instead of domestic concept. 4) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
 
 
 
Table 6.2: MIP Scoreboard (base indicators) 2017 

177 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE1.2 56.7 1.5 -0.3 1.5 1.6p0.1 185.0 101.8 7.1b0.6 68.0b3.5b19.3bBG3.5 -43.3 0.6 4.8 8.7p5.3 4.1 99.0 25.3 6.2 7.1 71.3 3.4 12.9 CZ1.7 -25.0 3.7 1.6 3.6 9.1p4.2 67.3 34.7 2.9 23.0 75.9 1.0 7.9 DK7.7 40.8 0.4 -1.2 1.1 3.3 0.1 201.7 35.5 5.8 4.8 78.8b1.3b12.4 DE8.1 55.2 1.0 -1.1 1.5 4.6 4.5 100.1 65.3 3.8 4.0 78.2 1.6 6.8 EE2.7 -32.5 1.5 -0.1 3.9 1.8 4.8 107.6 9.3 5.8 14.3 78.8 1.9 12.1 IE0.5 -167.2 0.0 1.6 -2.3 9.8 0.2 250.5 67.8 6.7 4.3 72.7 3.0 14.4 EL-1.9 -140.7 0.5 5.1 0.6p-1.6e-1.0p118.1p176.2 21.5 -13.0 68.3 15.6 43.6 ES2.7 -85.5 1.4 0.4 0.5p4.5 0.7p139.7p98.6 17.2 3.4 73.9 7.7 38.6 FR-0.7 -16.6 0.5 -3.3 0.6p2.2 6.8p145.5p98.4 9.4 4.6 71.5 4.2 22.3 HR3.3 -65.6 0.5 2.5 -0.7d2.9 1.5 97.8 78.0 11.0 3.9 66.4 4.6 27.2 IT2.7 -7.7 0.6 -0.1 0.0 -2.3 1.3 108.8 134.1 11.2 4.2 65.4 6.5 34.7 CY-5.1 -127.3 0.4 1.6 1.9p1.3 6.7 304.0 93.9 11.1 -1.7 73.9 4.5 24.7 LV1.0 -56.2 -0.1 1.9 3.7 5.6 2.4 76.9 38.6 8.7 6.2 77.0 3.3 17.0 LT0.5 -37.9 0.3 9.8 4.3 5.3 4.5 56.1 39.3 7.1 13.9 75.9 2.7 13.3 LU4.9 51.8 1.0 -3.9 4.6 3.7 27.4 322.9 22.3 5.6 0.4 70.2 2.1 15.5 HU2.3 -54.9 1.7 1.0 4.5 9.3 0.7 70.0 72.9 4.2 -7.7 71.2 1.7 10.7 MT11.4 63.0 1.0 -0.2 0.6 4.1 5.5 132.3 50.3 4.0 6.5 72.2 1.6 10.6 NL10.8 59.4 0.5 1.3 0.3p6.1 3.7 249.1 56.9 4.9 -0.1 79.7 1.9 8.9 AT1.6 2.8 1.0 -0.9 0.8 3.2 3.6 121.8 78.3 5.5 2.2 76.4 1.8 9.8 PL0.1 -61.2 2.7 5.9 2.2 1.8 2.9 76.5 50.6 4.9 6.5 69.6 1.5 14.8 PT1.2 -109.9 0.6 3.2 2.1 7.5 2.0 161.9 126.0 9.0 1.9 74.7 4.5 23.8 RO-3.2 -47.7 -1.8 2.9 9.8 3.2 1.7 50.9 35.1 4.9 8.2 67.3 2.0 18.3 SI6.1 -24.2 -0.3 5.3 1.2 6.2 0.9 76.3 74.1 6.6 5.3 74.2 3.1 11.2 SK-1.9 -68.3 -0.1 -1.3 4.5 4.4 9.6 94.5 51.3 8.1 17.4e72.1 5.1 18.9 FI-0.8 0.1 -0.6 4.2 -3.0 0.9 7.4 145.3 60.9 8.6 -4.0 76.7 2.1 20.1 SE2.8 4.5 -0.8 -3.2 2.1 4.8 13.3 197.9 40.7 6.7 6.9 82.5 1.2 17.8 UK-3.5 -10.0 -4.6 -4.0 2.2 3.1 8.1 169.7 86.2 4.3 -1.7 77.6 1.1 12.1 Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)Unemploymentrate,Activityrate,Long-termunemployementrateandYouthunemploymentrate:BE:Revisioninthe survey methodology; DK: data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2017External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 6.3: MIP Scoreboard (base indicators) 2016 

178 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE0.6 54.5 2.9 7.1 0.3 1.2p23.8 194.8 104.9 7.8 2.4 67.6 4.0 20.1 BG3.2 -47.9 -0.4 8.3 2.4p6.6 3.0 104.5 29.3 7.6 9.3 68.7 4.5 17.2 CZ1.6 -26.9 2.5 4.4 3.1 6.7p4.3 68.7 36.8 4.0 16.3 75.0 1.7 10.5 DK7.8 38.2 1.0 1.6 0.6 4.7 2.8 209.5 37.2 6.0 5.1 80.0b1.4b12.2 DE8.5 51.4 1.6 3.3 1.3 6.8 3.7 98.3 69.2 4.1 5.2 77.9 1.7 7.1 EE1.7 -39.2 1.5 6.9 3.3 4.0 6.2 112.4 10.2 6.8 6.7 77.5 2.1 13.4 IE-4.2 -171.7 0.9 4.0 2.2 7.1 -15.7 284.4 73.9 8.4 1.5 72.7 4.2 16.8 EL-1.7 -137.6 1.1 -2.1 -0.3p-1.7e-2.1p125.1p178.5 23.6 -10.4 68.2 17.0 47.3 ES3.2 -85.5 0.7 5.8 -0.9 4.4 -0.7 147.5 99.2 19.6 2.5 74.2 9.5 44.4 FR-0.5 -13.0 1.3 2.2 0.7 0.8 6.5 143.7 98.0 10.1 4.6 71.4 4.6 24.6 HR2.0 -72.4 1.1 9.1 -2.7d2.0 -0.2 104.1 81.0 13.4 3.5 65.6 6.6 31.8 IT2.6 -11.9 0.8 2.8 0.4 0.2 0.1 111.7 134.8 11.7 3.3 64.9 6.7 37.8 CY-4.2 -134.3 -0.2 8.2 -2.9 1.8 12.2 329.5 103.4 13.0 -0.2 73.4 5.8 29.1 LV1.4 -59.0 1.2 3.8 5.1 7.3 2.3 80.5 40.2 9.6 4.7 76.3 4.0 17.3 LT-1.1 -42.9 1.9 4.0 6.1 4.4 4.3 56.5 39.9 7.9 15.8 75.5 3.0 14.5 LU4.9 54.6 0.7 1.1 -0.7 5.7 -9.6 309.0 20.1 6.3 5.2 70.0 2.2 19.1 HU4.6 -59.6 0.8 3.4 4.0 13.2 -3.1 76.6 75.5 5.1 19.5 70.1 2.4 12.9 MT3.8 35.4 1.4 7.5 1.6 4.8 15.3 136.4 55.5 4.7 3.9 70.6 1.9 10.7 NL8.1 61.4 1.2 0.4 0.9 4.4 3.9 259.3 61.9 6.0 6.7 79.7 2.5 10.8 AT2.7 4.1 1.7 4.2 1.6 7.0 3.4 123.5 82.9 6.0 -2.8 76.2 1.9 11.2 PL-0.5 -61.6 -3.5 6.2 2.5 2.3 5.1 81.6 54.2 6.2 9.1 68.8 2.2 17.7 PT1.1 -110.3 1.6 4.2 0.8 6.1 -2.1 169.3 131.5 11.2 -0.3 73.7 6.2 28.2 RO-2.1 -49.0 -1.3 8.5 8.5 5.2 0.6 53.7 37.3 5.9 7.0 65.6 3.0 20.6 SI4.8 -28.9 0.5 6.7 1.8 3.9 -0.8 81.1 78.7 8.0 3.4 71.6 4.3 15.2 SK-2.7 -66.8 0.5 6.0 2.5 7.0 9.2 88.6 52.0 9.7 8.6e71.9 5.8 22.2 FI-2.0 5.2 1.2 2.8 -1.2 0.1 1.5 148.0 62.6 8.8 3.9 75.9 2.3 20.1 SE3.8 0.1 0.8 1.7 2.0 7.3 8.1 192.0 42.3 6.9 9.1 82.1 1.3 18.9 UK-5.2 0.3 -10.9 -3.6 2.7 5.5 11.4 167.8 86.8 4.8 11.7 77.3 1.3 13.0 Year2016External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)Nominalunitlabourcost:HR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)LabourForceSurveyindicators:DK:datacollectionimprovement,introductionofCAWI(computer-assistedwebinterviewing) technique. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.4: MIP Scoreboard (base indicators) 2015 

179 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE1.4 45.2 -3.4 -7.2 -1.0 0.8p12.1 176.1 105.2 8.5 2.7 67.6 4.4 22.1 BG0.1 -61.8 -3.6 -1.2 1.9p1.2b-3.5 109.3 26.0 9.2 9.5 69.3 5.6 21.6 CZ0.2 -32.9 -0.9 -1.0 -0.8 3.8p0.3 68.1 40.0 5.1 8.1 74.0 2.4 12.6 DK8.2 33.4 -3.4 -2.0 0.8 6.5 2.9 211.4 39.8 6.3 -0.9 78.5 1.7 12.1 DE8.6 46.6 -4.4 -0.1 2.0 4.2 2.9 97.9 72.1 4.6 2.6 77.6 2.0 7.2 EE1.8 -39.9 0.1 -8.5 4.8 7.3 2.7 112.8 10.0 6.2 8.6 76.7 2.4 13.1 IE4.4 -198.4 -7.2 40.6 -15.3 10.8 -2.3 305.1 76.7 10.0 9.6 72.1 5.3 20.2 EL-0.8 -135.4 -4.5 -7.2 -1.3p-3.4e-3.0p128.0p175.9 24.9 5.3 67.8 18.2 49.8 ES2.0 -88.9 -4.5 -1.4 0.0 3.7 -2.7 155.8 99.3 22.1 -2.0 74.3 11.4 48.3 FR-0.4 -12.9 -4.7 0.9 0.2 -1.8 4.6 142.8 95.6 10.4 2.2 71.3 4.6 24.7 HR3.2 -78.4 -1.5 3.6 -0.5d-2.6 -1.5 111.9 84.4 16.1 2.0 66.9 10.2 42.3 IT1.4 -19.3 -4.5 -2.4 0.9 -4.0 -1.4 115.1 135.3 11.9 1.4 64.0 6.9 40.3 CY-0.6 -154.5 -6.5 2.4 -3.1 0.5b4.4 347.8 107.5 15.0 9.8 73.9 6.8 32.8 LV-0.9 -64.1 0.6 -3.7 5.8 -2.4 -0.5 80.4 36.7 9.9 13.2 75.7 4.5 16.3 LT-2.4 -43.6 0.3 -8.6 5.1 4.7 2.6 55.3 42.7 9.1 7.3 74.1 3.9 16.3 LU5.1 50.0 -2.7 2.6 0.1 5.3 23.6 335.8 22.0 6.5 17.5 70.9b1.9b16.6 HU2.3 -67.9 -2.4 0.3 0.4 13.2 -2.5 83.2 76.1 6.8 0.4 68.6 3.1 17.3 MT2.8 37.4 -4.8 11.0 -1.0 4.0 8.8 134.8 57.8 5.4 3.6 68.8 2.4 11.6 NL6.3 48.9 -3.4 -2.0 -1.3 3.4 0.0 262.8 64.6 6.9 4.0 79.6 3.0 11.3 AT1.7 2.2 -2.4 -3.5 1.5 3.4 2.1 124.0 84.9 5.7 -0.1 75.5 1.7 10.6 PL-0.6 -62.1 -2.6 2.4 -0.6 2.6 3.5 78.9 51.3 7.5 2.4 68.1 3.0 20.8 PT0.1 -118.9 -2.9 -1.3 -0.1 2.1 -1.9 179.5 131.2 12.6 -1.6 73.4 7.2 32.0 RO-1.2 -54.6 -2.6 -0.2 -3.1 1.8 0.2 58.0 37.8 6.8 4.1 66.1 3.0 21.7 SI3.8 -31.2 -2.1 -1.6 0.6 1.4 -5.0 87.4 82.6 9.0 -3.8 71.8 4.7 16.3 SK-2.1 -63.9 -2.4 -2.7 0.9 5.5 5.1 80.6 51.9 11.5 10.4e70.9 7.6 26.5 FI-0.9 4.8 -3.2 -6.8 0.8 -0.2 6.8 151.5 63.0 9.4 1.4 75.8 2.3 22.4 SE4.1 -3.9 -5.5 -1.2 -0.3 11.9 7.5 191.5 43.9 7.4 1.8 81.7 1.5 20.4 UK-4.9 -22.7 4.9 4.3 0.1 6.0 3.3 163.0 86.9 5.3 -8.5 76.9 1.6 14.6 Year2015External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL;b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY.4)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.5)Privatesectordebt:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets;6) Activity rate, Long-term unemployement rate: LU change in sampling strategy and data collection technique. 7) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.5: MIP Scoreboard (base indicators) 2014 

180 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE0.8 44.8 0.2 0.4 -0.2 -1.3 -2.0 162.2 107.0 8.5 2.5 67.7 4.3 23.2 BG1.2 -72.2 -0.8 0.8 4.0p1.4 2.3 125.6 27.1 11.4 7.9 69.0 6.9 23.8 CZ0.2 -36.6 -5.2 4.7 0.4 1.8 1.7 71.5 42.2 6.1 5.2 73.5 2.7 15.9 DK8.9 43.3 0.8 0.5 0.7 3.2 -0.3 214.0 44.3 6.9 7.3 78.1 1.7 14.2 DE7.2 40.8 0.8 2.5 1.5 2.2 -0.3 98.4 75.7 5.0 4.6 77.7 2.2 7.7 EE0.7 -46.7 2.8 0.8 4.3 12.9 5.6 115.4 10.6 7.4 13.0 75.2 3.3 15.0 IE1.1 -164.7 -0.8 13.0 -5.0 15.5 2.6 278.4 104.4 11.9 19.5 71.8 6.6 23.4 EL-0.7 -131.9 -0.6 3.6 -1.8p-5.1e-3.0p130.8p178.9 26.5 -7.9 67.4 19.5 52.4 ES1.7 -95.9 -0.5 0.9 -0.2 0.2 -6.5 168.2 100.7 24.5 -0.6 74.2 12.9 53.2 FR-1.0 -15.6 0.3 0.2 0.7 -1.7 3.2 141.5 94.9 10.3 5.6 71.0 4.5 24.2 HR0.2 -86.8 0.5 4.4 -2.4d-1.3 -0.1 117.2 84.7 17.2 0.6 66.1 10.1 44.9 IT1.9 -21.0 0.3 0.7 0.2 -4.9 -0.3 118.9 135.4 12.7 0.5 63.9 7.7 42.7 CY-4.3 -163.8 -0.8 2.4 -3.8 -1.1 -0.7 352.8 109.2 16.1 11.6 74.3 7.7 36.0 LV-2.3 -67.1 2.9 3.7 5.0 4.3 -4.4 82.2 40.9 10.8 11.4 74.6 4.6 19.6 LT3.5 -46.8 3.0 -5.8 3.1 6.4 0.2 54.2 40.6 10.7 16.7 73.7 4.8 19.3 LU5.2 59.3 0.5 10.2 1.8 3.9 28.7 324.9 22.7 6.0 37.8 70.8 1.6 22.3 HU1.2 -80.4 -3.6 4.1 1.0 3.0 -0.2 90.7 76.8 7.7 8.7 67.0 3.7 20.4 MT5.8 43.0 0.6 3.0 -1.7 2.1 7.4 143.9 63.4 5.7 5.9 67.8 2.7 11.7 NL8.5 48.0 -0.1 0.4 0.1 -0.1 4.3 267.2 67.8 7.4 8.0 79.0 2.9 12.7 AT2.5 3.4 1.7 1.3 2.2 1.4 0.9 124.8 84.0 5.6 -0.8 75.4 1.5 10.3 PL-2.1 -69.1 1.0 5.0 0.6 1.2 4.6 78.1 50.4 9.0 0.7 67.9 3.8 23.9 PT0.1 -123.8 -0.5 0.9 -1.2 4.0 -5.7 190.5 132.9 14.1 -7.5 73.2 8.4 34.7 RO-0.7 -57.3 1.4 6.1 4.2 -3.1 -2.3 62.1 39.2 6.8 1.2 65.7 2.8 24.0 SI5.1 -38.4 1.1 4.0 -1.1 -6.2 -4.7 97.9 80.3 9.7 -0.1 70.9 5.3 20.2 SK1.1 -63.5 0.2 -1.7 0.7 1.5 5.0 79.0 53.5 13.2 9.4e70.3 9.3 29.7 FI-1.3 -3.1 2.5 -4.6 0.9 -1.5 1.7 148.8 59.8 8.7 9.3 75.4 1.9 20.5 SE4.5 -2.3 -4.6 -0.4 1.0 8.5 4.6 193.3 45.2 7.9 12.6 81.5 1.4 22.9 UK-4.7 -22.8 7.1 2.9 0.9 6.4 6.7 164.5 86.2 6.1 4.8 76.7 2.2 17.0 Year2014External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.6: MIP Scoreboard (base indicators) 2013 

181 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE1.0 43.2 1.5 1.6 1.7 0.1 7.9 163.0 105.5 8.4 1.2 67.5 3.9 23.7 BG1.3 -73.5 0.1 6.6 8.0p0.4 2.6 130.6 17.1 13.0 1.1 68.4 7.4 28.4 CZ-0.5 -41.4 -2.2 -1.4 0.5 -0.8 4.4 73.7 44.9 7.0 11.4 72.9 3.0 18.9 DK7.8 37.2 1.0 2.2 0.7 3.1 -3.0 216.1 44.0 7.4 1.8 78.1 1.8 14.8 DE6.6 34.7 2.2 1.1 2.3 1.6 2.0 103.0 78.7 5.2 -6.4 77.6 2.3 7.8 EE0.3 -49.7 2.9 3.8 5.6 7.3 4.8 115.2 10.2 8.6 10.3 75.1 3.8 18.7 IE1.6 -133.4 1.6 2.0 1.2 -0.1 -1.4 267.5 119.9 13.8 1.9 71.8 8.0 26.7 EL-1.4 -130.4 -0.6 0.7 -6.9p-9.1e-4.0p132.3p177.4 27.5 -17.7 67.5 18.5 58.3 ES2.0 -92.8 1.9 3.9 -0.9 -10.0 -10.1 178.1 95.8 26.1 -9.9 74.3 13.0 55.5 FR-0.5 -16.6 1.6 2.5 1.4 -2.6 2.1 137.4 93.4 10.3 0.5 70.7e4.4e24.9 HR-1.1 -89.5 1.2 1.9 -3.3d-5.7 -0.6 117.2 81.2 17.4 2.8 63.7 11.0 49.9 IT1.1 -23.3 1.9 0.3 0.8 -7.5 -2.9 121.2 132.4 12.1 -2.7 63.4 6.9 40.0 CY-1.5 -162.5 1.1 2.9 -4.3 -3.8 -12.0 341.2 104.0 15.9 -3.4 73.6 6.1 38.9 LV-2.7 -66.7 -1.0 2.4 5.5 6.7 -0.6 91.0 39.4 11.9 5.7 74.0 5.7 23.2 LT1.7 -50.6 0.9 5.7 3.1 0.3 -0.3 56.7 38.7 11.8 -1.2 72.4 5.1 21.9 LU5.4 58.9 1.6 10.4 0.5 3.3 27.8 313.3 23.7 5.9 10.3 69.9 1.8 16.9 HU3.5 -82.2 -1.4 1.6 -0.3 -4.4 -0.9 94.6 77.3 10.2 -1.3 64.7 4.9 26.6 MT0.1 26.9 1.5 1.2 1.3 -1.4 2.3 153.0 68.4 6.1 0.0 66.3 2.8 12.7 NL9.8 30.7 2.7 1.5 0.8 -7.9 9.7 257.7 67.7 7.3 -1.6 79.4 2.5 13.2 AT1.9 1.3 2.1 1.8 2.5 3.0 1.0 127.1 81.3 5.4 -3.2 75.5 1.3 9.7 PL-1.3 -68.9 0.2 5.9 0.2 -4.8 3.3 75.4 55.7 10.3 7.4 67.0 4.4 27.3 PT1.6 -120.2 0.3 6.8 1.5 -2.7 -1.6 202.1 131.4 16.4 -5.4 73.0 9.3 38.1 RO-1.1 -62.8 4.0 15.5 -0.3 -2.8 -1.4 66.8 37.6 7.1 0.8 64.9 3.2 23.7 SI3.3 -39.3 1.4 2.7 0.4 -7.2 -3.7 107.2 70.0 10.1 -10.1 70.5 5.2 21.6 SK1.9 -62.2 1.0 5.0 1.1 -0.4 5.0 75.2 54.7 14.2 1.4e69.9 10.0 33.7 FI-1.8 3.0 2.9 -0.2 1.6 -1.3 2.8 147.0 56.2 8.2 -11.6 75.2 1.7 19.9 SE5.2 -15.9 1.7 -1.6 1.9 4.5 4.6 194.3 40.5 8.0 9.7 81.1 1.4 23.6 UK-4.8 -17.8 -1.5 -0.5 2.2 0.7 6.9 170.8 84.2 7.5 -7.7 76.4 2.7 20.7 Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.7: MIP Scoreboard (base indicators) 2012 

182 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-0.1 40.8 -2.3 -6.3 2.8 0.2 14.7 191.0 104.8 7.6 -5.1 66.9 3.4 19.8 BG-0.9 -77.7 -2.1 -4.8 4.7p-5.2 2.6 128.3 16.7 12.3 11.7 67.1 6.8 28.1 CZ-1.6 -45.9 -2.8 -4.1 3.0 -3.6 2.9 70.7 44.5 7.0 5.2 71.6 3.0 19.5 DK6.3 36.1 -2.9 -5.0 0.9 -4.9 7.9 224.0 44.9 7.8 2.5 78.6 2.1 15.7 DE7.1 28.7 -3.3 -4.6 3.4 2.1 1.4 101.9 81.1 5.4 3.2 77.2 2.4 8.0 EE-1.9 -50.7 -0.9 -2.6 4.2 3.1 7.6 117.2 9.8 10.0 10.9 74.8 5.5 20.9 IE-3.4 -137.8 -4.4 -6.0 0.2 -14.6 -0.5 279.1 119.9 15.5 -1.8 71.1 9.2 30.8 EL-3.5 -115.9 -4.5 -4.8 -2.0p-12.1e-4.7p132.6p159.6 24.5 -2.1 67.5 14.5 55.3 ES0.1 -88.9 -2.4 -6.0 -2.5 -16.5 -11.2 188.5 86.3 24.8 0.6 74.3 11.0 52.9 FR-1.0 -12.8 -3.2 -4.5 2.2 -2.0 4.2 138.3 90.6 9.8 1.4 70.3e4.1e24.4 HR-1.9 -91.6 -2.5 -8.9 -1.3d-4.7 -2.9 118.4 70.1 15.8 0.9 63.9 10.2 42.2 IT-0.2 -23.0 -1.9 -5.3 1.5 -5.0 -0.9 124.2 126.5 10.7 7.2 63.5 5.6 35.3 CY-4.5 -141.1 -2.1 -7.5 1.6 -5.5 0.8 326.0 80.3 11.9 12.2 73.5 3.6 27.7 LV-3.6 -67.5 -1.5 3.8 4.8 -0.2 -5.4 96.8 41.6 15.0 5.6 74.4 7.8 28.5 LT-1.6 -54.3 -2.0 4.3 2.2 -3.3 0.3 61.1 39.8 13.4 -0.7 71.8 6.6 26.7 LU5.6 58.4 -1.6 5.5 4.6 2.1 25.9 303.7 22.0 5.1 15.1 69.4 1.6 18.0 HU1.6 -92.2 -1.9 -10.8 5.5 -9.5 -6.0 101.1 78.5 11.0 -5.8 63.7 5.0 28.2 MT-0.4 19.6 -2.0 -1.5 3.3 0.4 0.1 162.4 67.7 6.2 8.6 63.9 3.0 13.8 NL10.2 26.7 -1.8 -3.2 2.8 -7.9 6.1 252.1 66.2 5.8 6.0 79.0 1.9 11.7 AT1.5 -3.2 -1.8 -6.3 3.1 4.8 1.2 128.2 81.9 4.9 0.4 75.1 1.2 9.4 PL-3.7 -65.3 -2.2 -2.6 2.0 -6.6 4.8 73.4 53.7 10.1 10.7 66.5 4.1 26.5 PT-1.8 -119.3 -1.6 -5.0 -3.1 -8.7 -3.9 210.5 129.0 15.8 -3.0 73.4 7.7 38.0 RO-4.8 -67.6 -6.1 -7.2 2.8 -9.1 0.3 72.1 37.0 6.8 4.8 64.8 3.0 22.6 SI1.3 -44.0 -1.2 -7.5 0.7 -8.4 -2.8 112.2 53.6 8.9 -0.7 70.4 4.3 20.6 SK0.9 -60.6 0.0 0.7 0.6 -6.0 1.9b71.1b51.8 14.0 1.1b69.4 9.4 34.0 FI-2.1 10.6 -2.6 -7.7 5.1 -0.3 7.1 147.7 53.6 7.7 -1.3 75.2 1.6 19.0 SE5.5 -15.5 -0.7 -6.2 4.5 0.7 2.4 191.0 37.7 8.0 5.6 80.3 1.5 23.7 UK-3.4 -28.1 4.4 -1.8 0.9 -1.5 1.7 176.5 83.2 7.9 -3.5 76.1 2.7 21.2 Year2012External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.8: MIP Scoreboard (base indicators) 2011 

183 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-1.9 51.4 0.6 -2.6 2.8 1.1 22.2 180.5 103.5 7.2 5.4 66.7 3.5 18.7 BG0.3 -82.8 1.0 12.0 2.0 -8.6 3.5 129.1 15.2 11.3 4.3 65.9b6.3b25.0 CZ-2.1 -45.2 2.0 -0.3 0.7 -1.7 2.1 68.3 39.8 6.7 4.3 70.5b2.7b18.1 DK6.6 27.8 -0.6 -4.3 0.0 -4.0 4.4 221.0 46.1 7.8 1.6 79.3 1.8 16.3 DE6.2 23.3 -0.6 -2.0 0.3 1.6 2.0 102.4 79.8 5.8 3.1 77.3b2.8b8.5 EE1.3 -54.0 1.1 15.0 1.0 3.1 -0.8 118.9 6.1 12.3 -0.2 74.7 7.1 22.4 IE-1.6 -139.3 -1.0 -9.6 -2.1b-17.9 16.5 274.5 111.1 15.4 -2.3 71.2 8.8 29.6 EL-8.6 -88.8 0.6 -6.6 -1.4p-7.5e-6.5p130.2p172.1 17.9 -3.7 67.3 8.8 44.7 ES-3.2 -91.9 0.3 -0.6 -1.7 -9.7 -4.2 198.2 69.9 21.4 2.8 73.9 8.9 46.2 FR-0.9 -8.7 -0.6 -2.7 0.9 4.0 6.4 135.3 87.8 9.2 6.9 69.7e4.0e22.6 HR-1.8 -93.1 -2.7 -6.1 -0.1d-1.9 -2.5 121.0 64.4 13.7 1.9 64.1 8.4 36.6 IT-2.8 -18.2 0.1 -3.3 0.5 -1.5 3.1 121.8 119.7 8.4 5.1 62.1 4.3 29.2 CY-2.4 -141.9 0.2 -4.5 2.2 -4.4 17.1 319.8 65.9 7.9 9.6 73.5 1.6 22.4 LV-3.2 -74.7 0.8 6.9 -2.3 4.0 -2.4 115.2 43.1 16.2 -6.2 72.8 8.8 31.0 LT-3.7 -53.6 0.6 12.2 0.6 2.2 -1.8 68.8 37.2 15.4 2.0 71.4 8.0 32.6 LU6.0 28.9 0.8 -1.5 2.3 0.6 21.4 284.3 18.7 4.8 10.9 67.9 1.4 16.4 HU0.6 -104.2 -0.5 -4.2 2.3 -7.0 -4.4 113.6 80.8 11.0 6.2 62.4 5.2 26.0 MT-2.0 6.3 -0.7 -4.3 5.0 -3.5 6.8 168.5 70.2 6.4 10.4 61.8 3.0 13.3 NL8.6 20.1 -0.3 -3.6 1.2 -4.0 8.2 247.2 61.7 5.0 10.3 78.1 1.6 10.0 AT1.6 -1.9 0.5 -2.6 0.7 3.0 3.0 129.4 82.4 4.6 1.5 74.6 1.2 8.9 PL-5.2 -62.4 -2.3 -1.6 0.8 -4.6 6.6 73.9 54.1 9.7 4.8 65.7 3.6 25.8 PT-6.0 -104.1 0.7 -0.2 -2.1 -6.5 -0.9 204.2 114.4 12.9 -4.5 73.6b6.2b30.2 RO-5.0 -66.1 2.9 6.0 -6.9 -15.6 2.8 73.7 34.0 7.2 4.5 64.1 2.9 23.9 SI-0.8 -39.8 -0.7 -1.8 -1.0 0.9 0.5 112.9 46.5 8.2 -1.2 70.3 3.6 15.7 SK-4.9 -63.9 1.1 2.8 0.9 -5.2 2.9 69.5 43.5 13.7d0.6e68.7b9.2b33.7dFI-1.4 13.9 0.0 -6.1 2.5 -0.1 5.3 144.6 48.3 7.8 28.8 74.9 1.7 20.1 SE5.5 -8.3 4.1 -0.2 2.4 1.2 7.0 189.1 37.3 7.8 1.8 79.9 1.5 22.8 UK-1.8 -11.6 0.5 -2.1 0.7 -5.0 1.6 176.8 80.1 8.1 10.4 75.5 2.7 21.3 Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL.4)Nominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.9: MIP Scoreboard (base indicators) 2010 

184 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE1.6 56.3 -2.6 -6.9 -0.7 1.2 -0.7 168.7 100.3 8.3 -1.2 67.7 4.0 22.4 BG-1.7 -92.4 -3.0 -7.8 5.0 -12.4e-0.3 137.3 15.4 10.3d4.3 66.7b4.7b21.9dCZ-3.6 -46.0 1.3 -5.1 0.1 -2.2 2.6 67.9 37.4 7.3 3.2 70.2 3.0 18.3 DK6.6 12.8 -4.4 -9.9 -1.0 0.3 -2.9 220.6 42.6 7.7 9.7 79.4 1.5 15.5 DE5.7 25.8 -5.3 -6.6 -1.2 -0.5 0.0 106.4 82.4 7.0 -0.8 76.7b3.3b9.8 EE1.8 -69.4 -3.8 2.8 -5.0 1.8 -3.2 136.7 6.6 16.7 -8.6 73.9 7.6 32.9 IE-1.2 -113.5 -7.3 -12.9 -8.2 -11.6 2.2 257.0 86.0 14.6 6.3 71.6 6.9 28.1 EL-10.0 -99.0 -1.2 -13.0 1.0 -8.0e2.4 128.1 146.2 12.7 8.4 67.8 5.7 33.0 ES-3.9 -88.6 -3.2 -9.8 -0.9 -3.7 0.9 203.2 60.5 19.9 -1.5 73.5 7.3 41.5 FR-0.6 -9.3 -4.2 -10.5 1.0 3.6 4.6 132.0 85.3 9.3 3.5 69.8e3.9e23.3 HR-2.3 -95.4 -3.4 -11.3 -0.2d-7.6 4.7 123.6 57.8 11.8 4.1 65.1 6.6 32.3 IT-3.3 -20.1 -4.6 -8.7 0.0 -0.9be5.0 122.8 119.2 8.4 4.2 62.0 4.0 27.9 CY-10.8 -122.2 -4.1 -14.1 -0.6 -8.1 20.5 309.5 56.4 6.3 4.2 73.6 1.3 16.6 LV1.8 -83.0 -8.0 -5.0 -8.7 -8.7 -9.1 134.0 47.3 19.5 0.5 73.0 8.8 36.2 LT0.2 -60.0 -5.4 2.4 -6.8b-8.6 -5.9b74.8b36.3 17.8 -0.1 70.2 7.4 35.7 LU6.7 -20.4 -1.7 -8.0 -1.0 4.2 -22.5 284.2 19.8 4.6 13.1 68.2 1.3 15.8 HU0.3 -106.7 1.6 -8.0 -0.2 -5.9 -4.2 114.4 80.6 11.2 -0.2 61.9 5.5 26.4 MT-6.3 12.1 -5.0 -11.0 0.2 -1.0 7.7 169.9 67.5 6.8 14.3 60.4 3.1 13.2 NL7.0 11.0 -3.9 -6.9 -1.3 -3.3 2.8 244.4 59.2 5.0 5.4 77.9 1.3 11.1 AT2.9 -5.2 -3.4 -10.5 0.0 4.3be0.3 132.3 82.7 4.8 -1.9 74.4 1.2 9.5 PL-5.4 -65.1 6.1 -1.8 2.4b-6.0e4.2 69.7 53.1 9.7 13.7 65.3b3.0b23.7 PT-10.1 -107.2 -3.1 -9.3 -1.1 -1.0 5.3 201.8 100.2 12.0 11.5 73.7 5.7 28.2 RO-5.1 -64.1 1.5 -0.5 11.7 -12.7 0.9 74.7 29.6 7.0 4.9 64.9b2.4b22.1 SI-0.7 -43.1 -2.6 -10.0 0.4 -1.3 2.0 115.2 38.3 7.3 -3.4 71.5 3.2 14.7 SK-4.7 -61.5 -4.3 -4.7 -1.8 -4.9 2.9 66.0 41.0 14.5 2.3e68.7 9.2 33.9 FI1.5 15.5 -5.8 -11.9 -1.7 4.8 7.1 146.2 46.9 8.4 20.0 74.5 2.0 21.4 SE5.9 -5.5 6.7 -1.6 -2.8 6.5 5.3 186.7 38.2 8.6 2.8 79.1 1.6 24.8 UK-3.2 -7.9 1.1 -7.8 1.3 4.0 -0.8 182.5 74.6 7.8 7.3 75.4 2.5 19.9 Year2010External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. e:Estimated. d:Definition differs. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforBGandPL;e=estimatebyNCBforEL,IT,andAT.4)NominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.5)Nominalunitlabourcost,Privatesectordebt,PrivatesectorcreditflowLT,b:temporaryseriesbreakcausedbyimplementationofbenchmarkrevisionin2019(2010-2018).6)InTotalfinancialsectorliabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 6.10: MIP Scoreboard (base indicators) 2009 

185 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE1.7 58.2 0.5 0.9 3.0 0.3 5.4 173.7 100.2 7.9 0.5 66.9 3.5 21.9 BG-8.3 -97.0 4.0 -4.7 10.0 -21.0e1.8 140.4 13.7 6.8 3.8 67.2 3.0 15.1 CZ-2.3 -43.9 -3.8 0.8 2.6 -4.7 0.5 65.9 33.6 6.7 2.2 70.1 2.0 16.6 DK3.5 0.9 2.6 -1.8 4.7 -13.0 -1.9 232.2 40.2 6.4 5.5 80.2 0.6 13.4 DE5.8 25.1 1.1 -1.4 6.6 0.7 -1.1 113.6 73.0 7.6 -6.3 76.3 3.5 11.1 EE2.5 -78.2 2.0 -8.1 1.9 -36.3 -5.4 145.8 7.2 13.5 -4.6 74.0 3.7 27.4 IE-4.7 -115.7 -1.5 18.4 -4.0 -13.7 -4.5 256.1 61.5 12.6 3.4 73.0 3.5 24.5 EL-12.3 -87.5 2.4 -5.7 7.1 -4.7e2.2 116.5 126.7 9.6 10.1 67.4b3.9b25.7 ES-4.3 -93.5 0.4 2.3 1.2 -5.7 -1.2 204.2 53.3 17.9 2.8 73.1 4.3 37.7 FR-0.6 -14.8 0.4 0.5 3.4 -4.7 3.3 130.6 83.0 9.1 -0.7 69.8e3.3e23.6 HR-6.7 -89.1 1.4 -0.7 7.2d-7.9 2.5 118.9 48.7 9.3 4.0 65.6 5.1 25.4 IT-1.9 -22.3 1.3 -5.1 4.3 0.0e0.8 122.2 116.6 7.7 5.1 62.3 3.4 25.3 CY-6.6 -116.0 1.0 12.7 7.8 -6.9 10.7 301.5 54.3 5.4 24.2 73.0b0.6b13.8 LV7.7 -82.5 5.1 -1.9 -11.0 -34.9 -7.6 137.4 36.2 17.5 -9.2 73.5 4.5 33.3 LT2.1 -61.1 6.8 -11.7 -1.7 -32.9 -9.4 83.4 28.0 13.8 -4.5 69.6 3.3 29.6 LU7.2 -28.9 0.9 2.5 7.4 -0.6 7.4 332.2 15.7 5.1 6.8 68.7b1.2b16.5 HU-0.7 -113.4 -5.3 -3.4 1.6 -9.2 5.9 115.9 78.2 10.0 1.6 61.2 4.2 26.4 MT-8.5 12.6 0.7 16.9 5.6 -6.1 15.2 174.5 67.6 6.9 5.2 59.4 2.9 14.5 NL5.4 1.4 1.9 0.4 5.5 -3.0 9.7 245.6 56.8 4.4 7.1 78.1 1.1 10.2 AT2.6 -5.0 1.1 -1.9 5.1 3.6e1.3 131.9 79.9 5.3 -2.1 74.3 1.2 10.7 PL-4.0 -57.3 -14.5 0.1 0.9 -5.4e4.4 67.1 49.4 8.1d8.6 64.7 2.5 20.6dPT-10.4 -110.7 -0.6 0.0 2.8 1.0 5.3 204.2 87.8 10.7 8.8 73.4 4.2 25.3 RO-4.7 -59.6 -7.2 0.5 -1.7 -26.5e-1.6 69.2 21.8 6.5 15.1 63.1 2.2 20.0 SI-1.1 -40.6 2.3 -2.5 8.3 -10.2 3.0 113.5 34.5 5.9 7.4 71.8 1.8 13.6 SK-3.4 -66.4 6.8 -7.4 6.4 -12.7 3.0 68.4 36.4 12.1 -5.0e68.4 6.5 27.6 FI2.0 2.6 3.2 -11.3 8.3 -0.5 0.7 140.5 41.5 8.2 7.5 75.0 1.4 21.5 SE6.0 -7.1 -7.1 -8.7 4.6 1.1 5.9 199.2 40.9 8.3 4.0 78.9 1.1 25.0 UK-3.3 -16.2 -9.3 0.2 3.7 -9.5 -3.9 189.7 63.3 7.6 -17.0 75.7 1.9 19.1 Flags:b:Break in series. d:Definition differs. e:Estimated. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforBG,PLandRO;e=estimateby NCB for EL, IT, and AT. 4) Nominal unit labour cost HR, d: employment data use national concept instead of domestic concept. 5) In Total financial sector liabilities for SK, derivatives are estimated.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Year2009External imbalances and competitivenessInternal imbalancesEmployment indicators¹